With the advent of Amazon Prime, and the even faster Amazon Prime Now, ordering items online has never been so convenient. But how, exactly, do online vendors get you your packages so quickly? The answer – warehouse space.
Online retailers have been driving up demand for industrial space in urban areas throughout the US, and therefore, rent for the spaces has gone up as well. In the first quarter of 2017, rents for industrial space were going for $5.25 per square foot, and in the second quarter saw a steep climb up to $5.35 per square foot.
The big selling point for these retailers, aside from price, is proximity to transportation and consumers.