Need an item from a shelf that’s 40 feet above the warehouse floor? Just ask a picking robot in whatever language you want. Multilingual voice controls, the Internet of Things and emerging technologies are adding new efficiencies to the modern warehouse in a climate of rising costs, according to a new JLL report.
Industrial vacancy hit an all-time low across the U.S., as rent growth outpaced other commercial real estate sectors.
The vacancy rate hit 7.3 percent last year down from 8.1 percent in 2016, according to a report by online real estate trading platform Ten-X. The firm predicts the industrial market will tighten up slightly more this year on the back of 10 million square feet of net absorption.
The U.S. industrial sector is booming due to strong economic growth and the rapid rise in e-commerce that has occupiers expanding and modernizing their distribution facilities.
While strong activity continues in core markets, the greatest growth is currently happening in secondary markets with high population growth, land available for development and easy access to logistics hubs, including interstate highways, major airports, rail yards and seaports.