Weber Logistics’ EVP, Strategy & Marketing Fred Gilbert is featured in an article from Transport Topics which examines the current state of warehousing in relation to space and labor scarcity. Gilbert observes that “product is not leaving the warehouse as quickly as expected, leading to very full warehouses.”
Several communities within Southern California's Inland Empire have issued moratoriums on warehouse construction as they seek to better understand the impact of these facilities on the environment. These moratoriums come at a time when warehouse capacity is already non-existent and new construction is sorely needed.
Container ship logjams at US ports are (unfortunately) back in a big way. This time, however, the congestion is spread out across the US – especially the East and Gulf Coasts – instead of being concentrated on the West Coast.
In a stark example of the practical fallout from California's new AB5 labor law, Landstar is telling its owner-operators in California that they would need to relocate out of State to continue as independent contractors with the carrier, according to a recent article in Transport Dive. California agencies have yet to clarify when enforcement could begin.
Commercial Observer just reported that the LA area is effectively out of warehouse space. Any space returning to the market has a waiting list of tenants before it's even listed as available. Asking rents in the area just rose for an 8th consecutive quarter.
A recent FreightWaves article makes the case that every American should be concerned about the rising cost of diesel fuel. While every passenger car driver is well aware of the price increases of gasoline, many don’t know that diesel has increased by $1.57 a gallon since February 1st.
According to Connect CRE, industrial vacancies in Southern California reached a new low in Q1. At the same time, industrial rents are 25% higher than a year ago.
According to an article in FreightWaves, the U.S. Maritime Administration has announced nearly $450 million in FY22 competitive grant funding “for projects to help ports speed cargo flows and ultimately lower costs for consumers.”
A new article in the Sourcing Journal reveals that industrial rents in the Inland Empire climbed 59.6% in the fourth quarter of 2021, while the vacancy rate declined to 0.6%.
According to FreightWaves, companies that are renewing – or about to renew – multiyear warehouse leases are in for severe sticker shock.
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