Retailers are leasing warehouse space at a record-setting clip, as e-commerce drives companies to locate closer to population centers and keep more products on hand to meet customers’ speedy delivery expectations.
Firms leased 70.1 million square feet of industrial space in the second quarter of 2016, the most in over 30 years of data and up 6% from the same quarter last year, real-estate brokerage Cushman & Wakefield Inc. said in a report Monday. In a separate report, brokerage CBRE Inc. said warehouse availability declined for a 25th consecutive quarter to 8.8%.
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