Inland Empire Tops Mega Warehouse Construction Boom
Construction of industrial facilities measuring one-million square feet or more is strongest in large industrial markets that benefit from the booming e-commerce trend. The latest research from CBRE found that since 2010, nearly 90 million square feet of these mega facilities were completed in the top 10 U.S. markets. An additional 31.6 million square feet, with 60% pre-lease commitments, is under construction and scheduled for delivery by year-end 2018.
The largest number of warehouses under construction in the one-million-square-foot category are in the Inland Empire. Currently, there are six facilities being built, totaling 6.4 million square feet. Chicago and Philadelphia each have five large-scale buildings under construction, totaling 5.6 and 5.4 million square feet respectively.
Between 2010 and 2016, the Inland Empire ranked No. 2 in the nation for these mega facilities. There were 13 buildings, totaling 15.4 million square feet delivered in this category.
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