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Need For Logistics Space Remains High, Says Prologis

On its recent fourth-quarter earnings call, management from logistics real estate giant Prologis Inc.  said strong demand from the second half of 2020 has continued into the new year.

“We entered 2021 with optimism and confidence,” commented CFO Tom Olinger.

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Big Box Retail Eyed As Good Candidate For Warehouse Conversions

As retail struggles throughout the pandemic, there are many arguments for converting slumping shopping centers into new uses.

Big box retail hasn’t suffered as much as mom-and-pop stores, gyms and restaurants. Still, investors and developers are looking to warehouse conversions as a way to take advantage of the higher returns and strong rental growth of the logistics sector, according to Stuart Taylor, senior director of retail investments for JLL in a new post.
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How To Plan For Logistics Real Estate Growth? Underestimate It.

South Florida Logistics Center

In early July, real estate and investment giant JLL Inc. published a five-year outlook for U.S. e-commerce demand and logistics warehousing capacity.

The projections elicited “ooh-and-aah” types of responses, mainly because of the large numbers being bandied about. U.S. e-commerce sales would hit $1.5 trillion by 2025, while demand for logistics real estate would increase by an additional 1 billion square feet, JLL predicted.

Nearly three months later and with the benefit of hindsight, Rich Thompson, who headed the team that developed the report, realizes those projections were “very, very conservative.”

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