With the COVID-19 pandemic effecting the world, Commercial Real Estate is seeing its biggest swing in demand for a long time. People were comfortable going out and being in large spaces with others for long periods of time before this. However, social distancing and less people in one area is going to be the narrative for the coming future. In these situations, the demand for larger storage spaces is going to be on the rise. We’ll go into the details, but for the most detailed projects and information about Commercial Real Estate, check out the Mindful Capitol Group and Mindful Workspaces & Storage.
Why do People Need More Storage Space?
The idea that comes from the necessity for more storage space comes from the usage of online and to-go sales. In a world where less in-person grocery and dine in dinners are possible, the amount of people using online grocery buying is increased at an enormous rate. Many people order things online. However, there isn’t currently a large market for online perishable-buying. COVID-19 changed that entirely. People are now amassing to buying perishables online through these grocery markets. Companies aren’t prepared with a large enough cold and frozen storage space.
What Does That Mean?
That means that companies are currently SEARCHING for a way to purchase cold-storage space as soon as possible. The market for these storage spaces are going to skyrocket at an exponential rate. Grocery stores are now going to need an enormous amount of more storage space as this online buying becomes much more widely adopted. Also, restaurants and bars are going to see much less dine-in experiences and MUCH more to-go orders. People are going to remain in this idea of social distancing for a while. With the chance of a Global Pandemic illness is still viable, then they also will need more storage space for cold products. We’re looking at millions of storage space requirements for these changes!
For more outlooks on Commercial Real Estate, check out Mindful Capitol Group!