{"id":20440,"date":"2022-06-21T09:35:16","date_gmt":"2022-06-21T09:35:16","guid":{"rendered":"https:\/\/www.odysseylogistics.com\/?p=18893"},"modified":"2024-01-26T01:26:04","modified_gmt":"2024-01-26T01:26:04","slug":"choosing-the-right-warehouse","status":"publish","type":"blog","link":"https:\/\/www.odysseylogistics.com\/blog\/choosing-the-right-warehouse\/","title":{"rendered":"Tips for choosing the right warehouse"},"content":{"rendered":"\t\t
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Warehouse space is in big demand as companies adjust to the uptick in e-commerce orders, ongoing labor constraints and other pandemic-driven fulfillment challenges.\u00a0<\/i><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\u201cAs retailers and logistics companies try to stockpile goods to hedge against supply chain problems, they are facing a new challenge: In many parts of the United States, there is little to no space available to stash the merchandise,\u201d the\u00a0New York Times<\/i><\/a>\u00a0reports.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\u201cThe shortage of commercial warehouse and industrial space is the latest fallout from pandemic-fueled growth in online shopping and shows few signs of abating,\u201d it continues. \u201cBut the squeeze is spurring new thinking about how to manage storage, handle distribution and set up new delivery systems for everything from pet food to beauty supplies.\u201d<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Vacancies Down, Rents Up<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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By CBRE\u2019s latest count, warehouse vacancy rates are currently at an all-time low and aren\u2019t expected to improve anytime soon. Companies purchased or leased more than 1 billion square feet of industrial and logistics space last year\u2014the largest annual gross amount recorded since CBRE began tracking the figures in 1989. \u201cThe mad scramble for warehouse space that ensued last year drove vacancy down to just 3.2%, the lowest rate on record,\u201d Chain Store Age<\/i><\/a>\u00a0reports.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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These trends have forced shippers to sharpen their pencils and rethink the warehouse selection process, which can play a significant role in the success of their end-to-end supply chain management processes. The fact that most existing warehouses are old and can\u2019t always live up to the needs of a modern distribution organization makes the selection process that much more critical.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Using JLL, Inc.\u2019s numbers, FreightWaves<\/i><\/a>\u00a0estimates that the average industrial warehouse in the US is now 42 years old, and that 75% of all industrial facilities were built over 20 years ago. In Chicago, for instance, the average warehouse age is now 48. In New Jersey, that number is 56.\u00a0\u00a0\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Dealing with Aging Warehouse Stock<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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With the US supply of logistics warehouses growing older, these aging facilities often create issues like inadequate trailer space, an insufficient number of dock doors, obsolete floor slabs and lack of access to suitable power and sprinkler systems. Much of the older stock of logistics warehouses is being torn down and rebuilt, rather than the structures being modified, FreightWaves<\/i>\u00a0reports.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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For best results, companies should choose facilities that are both well maintained and are equipped with (or can be readily equipped with) modern technology and automation. Location always has and continues to be another important factor to consider, along with available capabilities like transloading, rail access and proximity to major highways.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Other key considerations include sales or lease price (including taxes); area workforce availability and costs; proximity to airports and seaports; and any other local market factors. Ideally, for example, your new facility will be situated near key suppliers and\/or customers. This will help minimize order lead times, lower freight costs and help speed up your supply chain.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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The focus needs to be on resiliency, says\u00a0Rick Ehrensaft, chief commercial officer for Odyssey Logistics\u2019 Consumer Warehousing.\u00a0 For more information on Odyssey\u2019s warehousing and transloading solutions contact one of our experts today.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Warehouse space is in big demand as companies adjust to the uptick in e-commerce orders, ongoing labor constraints and other pandemic-driven fulfillment challenges. <\/p>\n

\u201cAs retailers and logistics companies try to stockpile goods to hedge against supply chain problems, they are facing a new challenge: In many parts of the United States, there is little to no space available to stash the merchandise,\u201d the New York Times reports. <\/p>\n","protected":false},"author":8,"featured_media":22394,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"blog_category":[74],"class_list":["post-20440","blog","type-blog","status-publish","has-post-thumbnail","hentry","blog_category-industry-trends"],"acf":[],"yoast_head":"\nTips for Choosing the Right Warehouse - Odyssey Logistics<\/title>\n<meta name=\"description\" content=\"Warehouse space is in big demand as companies adjust to the uptick in e-commerce orders, here are tips for choosing the right warehouse\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.odysseylogistics.com\/blog\/choosing-the-right-warehouse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tips for Choosing the Right Warehouse - 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