Retailers will need an additional one billion square feet of industrial real estate by 2025 as the need for warehouse space grows along with online sales, according to a new report by JLL, the commercial real estate firm.
The novel coronavirus pandemic has sped up the pace of online activity with retailers now at levels they didn’t expect to reach for another two to five years. Consumers are becoming increasingly comfortable about shopping online as they avoid stores where others may pay little heed to social distancing and often refuse to wear face coverings.
