In its July pricing report, Green Street found the Industrial real estate sector gained 21% over a previous 5% coronavirus decline. The biggest factor? A boom in online shopping is causing an explosive need for warehouse space.
As U.S. consumers demand free and quick delivery of online product orders, the eCommerce sector raced to solve logistical challenges by turning to last-mile warehousing near big cities.
This higher demand brings the exciting promise of growth to the Long Island real estate market as the possibilities of new leases and purchases of warehouse spaces rise.