Industrial real estate designers have stepped up construction of refrigerators in the U.S. without tenants standing in line for space, betting that changes in the way consumers buy groceries and meals will encourage a pandemic to stay here.
Nearly 3.3 million square meters of refrigerated storage space was under construction in the second quarter of this year across the country without companies planning to take over the construction site in advance, which is about 1,000% more than it was built in 2019, according to a real estate company report. services
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The Logistics Report
The interior of Win Chill, a refrigerated warehouse in Sioux Falls, S.D.
CBRE
published on Wednesday. To see also : Restaurant mix: New acai waves, food truck updates.
The rise in what is known in real estate as speculative construction follows a reversal in consumer buying patterns during the Covid-19 pandemic as Americans rushed to buy groceries online and stocked up on more frozen food, while supermarket chains and food suppliers rebuilt their supply chains. to meet demand.
Consumer spending has been changing again in recent times as customers return to stores, reducing sales through e-commerce, and as rising inflation takes a toll on broader retail demand.
Top news and in-depth analysis of the world of logistics, from supply chain to transport and technology.
“We closely monitor retail,” said Matthew Walaszek, director of research at CBRE and one of the report’s authors. “If it falls, it will affect the market and there will be a retreat in expansion, but we don’t see that yet.”
How much does cold storage cost?
The refrigerator market is largely isolated from the economic slowdown because people have to keep eating, whether they are buying food at the store or sitting in a restaurant, Mr Walaszek said.
Food vendors including Read also : Food Security.
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What is the future of cold storage?
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- Walmart Inc. To see also : Uncertainty in real estate is inevitable. Use these tips to keep going.
What is the scope of cold storage?
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Is there a demand for cold storage?
Kroger Co.
What is the process of cold storage?
has introduced a number of new logistics operations to meet online demand during the pandemic, and many continue to invest in areas such as home delivery and street pick-up. Kroger works with a British specialist in automated food filling
