The supply chain and logistics industry may make use of a terminal tractor and other modern equipment, but the same can’t be said about their warehouse facilities. Statistics show that the country’s rapidly aging warehouse space is falling far short of current business needs.
Warehouse Inventory Can’t Keep Pace with Business Models
Earlier this year, global commercial real estate firm CBRE published results of their survey about the state of warehouse inventory in the U.S. While total warehouse space sits at 9.1 billion square feet, only 11 percent, or approximately one billion square feet, was built within the last 10 years.
The average age of U.S. warehouse inventory is 34 years, with another 11 percent of the total more than 50 years old. Many of these warehouses don’t meet today’s requirements, such as clearance heights of 20 feet or more, causing the spaces to become obsolete.
Not surprisingly, older warehouse inventory tends to be centered in traditional commercial hubs such as northern and central New Jersey, Pittsburgh, Boston and Philadelphia. Warehouses constructed in the last 10 years generally run three times the size of older ones, but they constitute only four percent of the national total of warehouse facilities.
What’s the Solution?
According to CBRE, there is light at the end of the tunnel. Newer warehouses are usually located near major population centers with sufficient amounts of developable land, while there are several opportunities to rebuild older warehouses in primary industrial and shipping areas.
The Electric Yard Dog Terminal Tractor from DJ Products
Our battery-powered terminal tractor can improve safety and productivity in warehouses of any size or age. Call 800.686.2651 and chat with our sales engineers to learn more about our full line of electric tugs, movers and pushers.