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Permission granted by Ahold Delhaize The Upland, California, Planning Commission is considering limits on warehouse size, truck hours and volumes to manage the spread of logistics and industrial development in the predominantly residential city. Upland is only one city dealing with the seemingly insatiable demand for new logistics space located closer to customers. Driven by the growth of e-commerce, warehouse demand exceeded supply in Q4 of 2020 and early 2021. The national vacancy rate fell to 4.8%, according to the Industrial Business Indicator from Prologis. Warehouse development is barely keeping pace with the pandemic-driven spike in e-commerce and the trend for additional safety stock to guard against supply chain volatility. While millions click and shop, not everyone welcomes an influx of tractor-trailers and delivery vans onto their city streets. ....
Demand for Cold Storage Hits Point Where Spec Projects Make Sense The logistics of vaccine distribution are drawing more attention to cold storage. But demand for this asset class is still primarily driven by grocery deliveries. Recent reports in mainstream media might be misleading potential investors about how much the distribution of COVID-19 vaccines will impact demand for cold storage space. As the vaccines will not be stored for any length of time, they will not increase demand enough to move the market, say cold storage brokers and advisors. “Vaccine logistics is a flow-through process shippers aren’t stocking and sitting on it,” says Tray Anderson, logistics and industrial lead, Americas, with real estate services firm Cushman & Wakefield. While governments may begin stockpiling vaccines in the future for booster shots or to be ready for another outbreak, that’s not happening right now. ....
With more e-commerce sales comes increased need for facilities to process returns. Holiday sales returns are expected to show a significant spike this year. Though the final figures are still unknown with many e-commerce retailers extending their eligible returns periods through the end of January, a return logistics report from real estate services firm CBRE estimates that approximately $70.5 billion in holiday purchases will be returned in 2021. The figure represents a 73 percent increase from the previous five-year average. A surge in e-commerce sales during the 2020 holiday season will produce a corresponding record amount of merchandise returns, notes Tray Anderson, head of the logistics and industrial services platform, Americas, for real estate services firm Cushman & Wakefield. And while returned merchandise takes a bite out of retailers’ profits, it can be a boon for industrial property owners. Returns processing is a good replacement use for class-B and o ....
Luis AlvarezGetty Images The end of the pandemic depends on truck drivers transporting COVID-19 vaccines from factories and planes to hospitals and pharmacies, but they are not prioritized to get the vaccine they are delivering. Currently, healthcare workers and residents of long-term care facilities are up first for the vaccine. And as part of phase 1b, frontline essential workers and people over the age of 75 should get the COVID-19 vaccine next, according to the CDC Advisory Committee on Immunization Practices (ACIP) vote on Sunday. Truck drivers, who deliver everything from food to furniture to vaccines, are without a doubt “essential to the functioning of society,” which is the CDC definition of a frontline essential worker. Yet currently, truck drivers aren’t considered to be in that essential workers group. ....