In 2018, about 4,000 robotic warehouses were in operation around the globe, but by 2025, that number could spike as high as 50,000. Automated warehouses can cost as much as 20 times more to build than traditional ones. However, warehouse users can implement automation at a scale that not only makes sense for them, but can be changed as demands change. Rather than going on hiring surges which strain the labor market, operators could simply bring in more robotic reinforcements.
Hanover Company is ready to start on its big apartment building project in Warner Center, which will see a flood of new residential development in the coming decade. Hanover wants to raze the 72,000-square-foot industrial and office buildings at 6636 North Variel Avenue to clear the way for its apartment development that will span 436,000 square feet. The new seven-story building will include 509 parking spaces. Read more here https://therealdeal.com/la/2019/03/11/hanover-mak
Despite signs of a slowing housing market and other warning lights in the real estate market, Los Angeles remains the top target for commercial investment among metro areas. The L.A. region has been the top-ranked target investment area since 2016, according to the report. Read more here https://therealdeal.com/la/2019/03/07/la-is-top-target-for-us-real-estate-investors-in-2019-report/
Expiring industrial leases in Los Angeles will ensure strong leasing activity through 2021. According to research from JLL, nearly 300 industrial leases of 50,000 square feet or greater will expire over the next two years. In total, these leases account for 34 million square feet of leasing activity. This will leave many tenants searching for space in a market plagued by a shortage of supply. Read more here https://www.globest.com/2019/03/01/expiring-leases-will-fuel-industri
The North American industrial real estate sector is undergoing a rapid transformation driven by e-commerce growth, and is forecast to grow by double digits throughout 2019 and beyond, according to the global real estate firm Cushman & Wakefield. Over the next few years, several broad trends will influence the market, the company observes. One of these is warehouses that will get taller and be brimming with state-of-the-art technology. “Tenants will begin to test and fill mult
When it comes to logistics, it seems like bigger should always be better. The largest companies can afford the biggest warehouses at airports and the closest warehouses to city centers. They should be able to drive down costs until there are only a handful of companies owning warehouses nationwide. But according to Phil Hawkins, that is not how it works. Hawkins is the former CEO of DCT Industrial Trust, a logistics company that was acquired in an $8.5B deal by Prologis, the
Wildfires have ravaged California in the past five years, racking up as much as $24B in damages in 2017 and 2018 alone. In the past, catastrophic weather events — like Hurricane Andrew, which brought $15B worth of destruction to Florida in 1992 — have changed the way insurers handled property insurance. Now, the insurance industry is beginning to confront whether wildfires of this scale in California are the new normal, and to plan accordingly. To get to the bottom of whethe