Finding sufficient climate-controlled storage space poses one of the biggest challenges in the refrigerated sector. Typically, this type of warehouse space is limited and expensive. Companies often find that the usual method of renting presents challenges, especially for smaller enterprises. For food manufacturers and distributors looking to grow and gain better control their own supply chain, the purchase of a warehouse could be a viable alternative.
Generally, the demand for industrial space has exploded with the growth of e-commerce. In fact, demand for industrial space has exceeded supply for 32 of 33 quarters, creating an historic low vacancy rate of 4.3%, according to data from CBRE, Los Angeles. Likewise, Deloitte, Chicago, forecasts that by 2023, industrial real estate demand will increase by 850 million square feet to 14.8 billion square feet.