Online grocery shopping increases demand for cold-storage real estate
The online grocery shopping boom has increased demand for food-storage warehouses, potentially effecting massive change in real estate development. So much that the global market for cold storage may rise to $18.6 billion by 2027 compared with $7 billion in 2019, according to consulting company Emergen Research. Companies like Amazon Fresh, FreshDirect, and Misfit Market have altered the supply chain and need more temperature-controlled warehouses to store meat, dairy, produce, and other perishables, The Wall Street Journal reported. That’s where companies like Americold Realty Trust and Lineage Logistics LLC come in with its cold storages. These facilities—often equipped with robotic technology and data analytics—are in close proximity to residential neighborhoods and can help groceries fulfill home orders smoothly.
