The current state of the economy coupled with an ongoing pandemic—and an evolution of the workplace—has had a major impact on the real estate industry. Supply shortages have delayed new construction, while urban residents are seeking suburban bliss. Rates are at record lows, but are expected to gradually climb. Inflation is on the rise as well. Basically, there are a lot of factors causing an unprecedented time for the housing market. But what about the other side of real estate? A different beast altogether, the industrial sector is primed for success. Here’s why you should be paying attention.
The e-commerce industry is on a long-term upward trend, with no signs of dipping anytime soon. More people are staying home than ever before, which leads to more online shopping. With the demand for contactless shopping rising, so too is the need for warehouses and facilities to support that industry. And while the supply chain that connects products to consumers isn’t performing well, local businesses can benefit from the redirected demand. In fact, companies like Amazon and GameStop are making news as they purchase more warehouses and fulfillment centers. Up 48% from 2019 to 2021, e-commerce is forecasted to almost double during the next four years.
It’s not just traditional retailers who are snatching up valuable warehouses, distribution centers and manufacturing facilities, as evidenced by the booming cannabis industry and the growth in digital currency.
As legalized cannabis creates more multi-million-dollar companies, the need for industrial property rises. A high-growth business everywhere it’s being legalized, as marijuana farms expand, so does the need for more facilities. Industrial real estate will continue to benefit as long as it can keep up with construction and leasing availability.
Cryptocurrency is another term we’ve been hearing everywhere. With the world of digital currency being so new and complex, it’s easy to overlook how much physical space is necessary for something that’s digital. But there are companies that specialize in crypto mining, which requires a lot of space in a controlled environment. As this industry becomes increasingly lucrative, early innovators are buying up warehouses to expand their operations and make even more money.
The Virtual Assistant Factor
But why does MyOutDesk care? Because there are a lot of roles in this equation that our virtual assistants fit perfectly. Companies trying to grow efficiently, or those already scaling up, come to us for cost-effective help.
Daniel Ramsey is the founder and CEO of MyOutDesk, rated No. 1 virtual assistant service by TechRadar. With over 6,000 clients and 700-plus verified five-star reviews, he helps businesses gain indispensable leverage with real estate virtual professionals.
To learn more, visit www.myoutdesk.com/services.