Industrial properties in South Florida were in hot demand in 2018, with the top five industrial sales totaling $478 million, outperforming last year’s $401.5 million.
There has been plenty written about the impact of e-commerce on retail infrastructure. Store closings and malls struggling to redefine their purpose have been the subject of major stories in a variety of mainstream media outlets. Reading those stories, it’s easy to get the impression that e-commerce is cratering real estate markets and creating ghost towns.
That’s hardly the case, at least not in many major cities where e-commerce has actually had the opposite effect by increasing the demand for real estate.
Multistory warehouses are becoming more common in densely populated metropolitan areas, according to a new report put together by CBRE.
Seattle, San Francisco, New York, Miami, Chicago and Los Angeles are the most favorable markets for this type of industrial development to take place due to the high land prices, dense population and the high concentration of e-commerce shoppers in these markets.