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Demand For Cold Storage Space To Grow By 100M SF In 5 Years, But Small Users May Be Frozen Out

Once a niche play in the industrial sector, cold-storage warehouse space is on a growth track.

The habits of U.S. consumers, who will order more food online in the coming years, is spurring the growth. A recent report by CBRE estimates there will be demand for as much as 100M SF of new cold-storage space over the next five years. That is a nearly 50% increase over its current market size of about 214M SF, since much of the food ordered online needs refrigeration at some point in the delivery cycle.

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Growth In Jobs, Housing Boost Demand For Industrial Real Estate

Warehouses are the hottest thing in commercial real estate these days.

Sustained growth in jobs, population and consumer confidence are driving expansion for contractors, building supply companies, food distributors and other businesses in need of industrial space across South Florida. As a result, vacancy are falling, rents are rising and developers are rushing to build more warehouses — in some cases “on spec,” without having tenants lined up.

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