Economist: Jacksonville industrial market is ‘as close to a can’t miss as there is’

“Economists love to predict recessions,” admits Kevin Thorpe, chief economist and global head of research for Cushman & Wakefield. “The running joke is we were successful predicting nine of the last four,” he said Thursday at a NAIOP Commercial Real Estate Development Association Northeast Florida Chapter luncheon. Actually, most economists are “pretty optimistic about this[…]

Sweet Spot of Spec Warehouse Design

By Jason West In response to advancements in technology and the growth of eCommerce, warehouses have evolved over the years, with upgraded docks, wider column spacing, higher ceilings, and better truck flow. In fact, developers are consistently pushing the envelope to make buildings that are bigger and better, begging the question, what is the ideal building[…]

What If Your Grocery Orders Were Prepared in a Tiny Robot Warehouse?

Your local supermarket could soon be home to a miniature robotic warehouse. Boston-area startup Takeoff Technologies is developing what it calls micro fulfillment centers. These will be small, heavily automated grocery distribution facilities that could be located inside existing supermarkets and used to quickly assemble orders for delivery or customer pickup. Putting them in existing[…]

2Q18 Jacksonville MarketBeat Reports

Strong Market Fundamentals The Jacksonville Metropolitan Statistical Area (MSA) saw significant job growth in the second quarter of 2018. The region continued to be a magnet for business relocations and expansions which fueled solid gains in population. The unemployment rate fell to 3.2% in May, down -70 basis points (bps) over the last 12 months[…]

Multitenant Distribution Warehouse Outlook

Smaller Warehouse, Bigger Performance The multitenant distribution (MTD) warehouse segment is generally described as warehouse/distribution buildings with small-to-medium footprints (typically 200,000 square feet or smaller), often with column spacing of 40 feet by 40 feet and clear height under 24 feet. Traditionally, tenants of these facilities tended to be local and regional distributors. More recently,[…]

Rejected Freight Stings US Shippers

Typically, after the third and fourth quarters (the busy holiday season), trucking companies see a slow in demand. This year that is not the case. Shipper frustration is building due to some top truckload companies adding surcharges or rejecting freight out right because of the overwhelming demand seen in this atypically busy season. Over the[…]

Are Warehouses on the Path to “Lights Out”?

What does “Lights Out” mean in terms of industrial facilities? Traditionally, the definition of lights out is a facility without people. This can be an attractive solution for companies that struggle with costs and labor retention. As attractive as lights out is conceptually, it must be the right solution for the company. Goods-to-person transportation routes[…]

Florida Labor Analytics Report

Florida Warehouse Worker In this report, Cushman & Wakefield analyzes labor costs and availability for warehouse workers in Florida. It also highlights the challenges many firms face in hiring and retaining employees. Florida’s elevated population and job growth rates support a rising consumer market making it a magnet for expansion by eCommerce companies which today[…]

Last Mile: Locking In the Customer

  Florida is a Leading E-Commerce Market The state is in the forefront of shifting retail landscapes and service deliveries. It’s growing demand for goods are fueled by increased levels of international tourists and diverse local populations. As the retail buying experience moves more online, the connections between retailers and consumers are critical to the[…]

Westgate, Agmac Distribution Centers Sold

Cushman & Wakefield announced it has negotiated the $7.43 million sale of the three-building, 237,000-square-foot, multitenant Westgate Distribution Center and Agmac Distribution Center in West Jacksonville. The portfolio was 87 percent leased at the time of sale to tenants that include Goodyear, Hughes Supply and Access Information Systems. The industrial brokerage team of directors Tyler[…]

Top 3 Warehouse Replenishment Challenges (And Solutions)

Today’s consumers want what they want, when they want it. So, as the demand for goods increases and supply chains become more consumer driven, it is imperative that warehouses replenish their products in picking and reserve areas in the most efficient and cost effective manner. However, there are several efficiency challenges that are plaguing warehouses[…]

The Best Place for a New Warehouse? An Old Mall

With wide-open spaces and central locations, dead malls are coming back to life as logistics centers for online shopping facilities. The pressure for speedy online package delivery is prompting companies to look for distribution facilities closer to residential areas or highways. Some of the best locations, it turns out, are dead malls. Warehouse landlords say[…]

Last Mile: Devouring the Consumer

Cushman & Wakefield pulled together a graphic highlighting why Florida is the ideal location for e-commerce business. E-commerce and the growth of online shopping is changing the retail landscape and the development of the last mile supply chain strategy is driving efficiences and disrupting traditional business models. Florida is a prime location for e-commerce tenants.[…]

Exploding online sales and a three-in-10 return rate mean industrial real estate finally feeling the love

Amazon’s purchase of Whole Foods is expected to add to the pressure for warehouse and distribution space Bananas are the Holy Grail of online delivery, the one thing that’s almost impossible to perfectly ship to someone’s doorstep after being ordered. “They are so finicky,” said Ben Conwell, a Seattle-based senior managing director at real estate[…]