With the COVID-19 pandemic continuing to affect the world, commercial real estate is seeing its biggest and strongest demand in a long while. Before the pandemic people were more comfortable going out and being in large spaces with others for long periods of time before.
However, social distancing and less people in a given area are going to be the “norm” 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 the Need More Storage Space?
Experts believe that the necessity for more storage space comes from the usage of online and to-go sales. In a world where fewer and fewer people go to the grocery store and going out to dinner is happening less, the number of people using online grocery buying is increasing at an enormous rate. Many people order things online via outlets like Amazon and WalMart.
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 This 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 fewer dine-in experiences and many 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!