So, if you have land on which to build storage space, or space that can be converted, this is the time to put it on the market. There are takers out there.
Wednesday, February 5, 2020
Got Warehouses?
The Town of Trumbull just announced a big warehouse deal by Amazon, who is opening a facility in North Haven also. Given our proximity to rail, water, NYC, and Boston, we are in demand as a region in an economy of delivery. Where will the supply come from? Since not much has been built, and since there is some oversupply in other types of flex space, what was built as office may now become warehouse space. While not providing the same number of jobs--which may be why Connecticut's 0.2% job growth is well below that of other states nationally and in New England-- such use does bring economic growth to our region. There's also a spillover effect into transportation and other ancillary sectors. Beggars can't be choosers. We have real estate, and distributors have needs.
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