While the outbreak of COVID-19 still plaguing the nation, the real estate market is fluctuating in patterns that have never before been seen. An entire mindset of has changed in business leaders. As more and more social distancing orders are being placed throughout the country, the demand for a larger amount of storage for to-go goods is going to be required. Companies are embracing the online shopping demand and bringing as much of their business to the online marketplace as possible.
More storage calls for larger storage facilities. Grocery stores, online marketplaces such as Amazon, restaurants and many more now have a lot of furniture and equipment that is no longer required within the business. In order to keep up with the speed of social distancing measures, they will be transferring this extra furniture and equipment in to these storage facilities. Therein, allowing them to use the remainder of space in their business for direct storage of to-go style items.
What Kinds of Businesses and People are Upgrading Storage during a Pandemic?
The answer is all of them. People are now stranded in their homes, online shopping and bringing themselves into a place filled with possessions they are unable to store. Some people have furniture, toys and other material items they are unable to let go of that they place into a storage unit. Others may have a boat that isn’t being used as much during the pandemic.
Those are just the people that aren’t requiring space from their own business. Business owners know that they require extra space. Grocery stores are going to need more cold storage for their perishable items. Online shopping has become the norm now. In fact, with the amount of companies now requiring such large amounts of storage space, these facilities are becoming more and more accessible on a commercial real estate level. Keep an eye out for these types of property boosting more and more in the real estate market.