Now comes a change in the way we do business that everyone can see. More and more stuff is being bought online and not in brick-and-mortar retail stores. And big screen TVs, computers, cell phones, drones, backyard barbeque repair kits and every other imaginable stuff have to be stored somewhere before being delivered. And that somewhere is industrial space.
In addition, as many as vendors as can are getting orders directly shipped from factories, thereby increasing the need for local storage.
All over the country demand for storage is soaring. In Southern California, perhaps the country's largest market, industrial rents are rising at a steady 10+% rate, according to a recent article in Globest.com.
What will this shortage of storage space mean for us in Pinellas? More expensive delivery? Longer delivery times? No one can be sure. However, anyone considering an investment in commercial real estate is well advised to carefully explore modern storage facilities in or around Pinellas County.