NEW YORK, April 19, 2022 (Newswire.com) - Demand for warehouse space is at an all-time high. The warehouse vacancy rate in the country is currently below 4%, a record low, with no signs of improvement. This shortage can be an issue for small to mid-size businesses with smaller budgets. There is a dire industrial real estate shortage in the United States. Because of this, businesses must look for alternatives to traditional warehouse space.
What is prompting the shortage and what small businesses can do to find a property that meets their small warehouse space needs?
What's Causing the Shortage of Warehouse Space?
One key to the current warehouse space scarcity is the recent boom in e-commerce. More online shopping has meant more companies and businesses without brick-and-mortar locations need a place to store goods for distribution. The pandemic has been a driving factor. It has prompted more consumers to choose online interactions over in-person shopping.
Another contributing issue is the supply chain crisis. Businesses are attempting to stockpile goods to counteract supply chain delays. Rather than a just-in-time viewpoint on inventory, companies are adding more inventory just in case. The supply chain is also slowing the construction of new warehouses and storage spaces, and building supplies have been susceptible to shortages and delays. This has halted or restricted construction projects in many cases across the country.
Large companies that can afford it also seem to be buying up warehouse space amidst the fear of losing opportunities. Their proactive purchases are partially responsible for the lack of storage space availability.
Finally, the high demand for land in port cities makes adding warehouses difficult. It takes acres of cleared land to build a new facility. With demand spiking, property for potential industrial use is at an all-time low, and the available property value is at a premium.
What makes ReadySpaces different?
The ReadySpaces model makes innovative use of existing spaces. They're committed to adding more inventory of small warehouse space for rent and believe in empowering small business owners. Their goal is to offer industrial space solutions that are flexible enough to grow with their business.
The unique approach involves utilizing current warehouse structures. Focusing on the building's potential to be converted and repurposed into a space that meets business storage needs for numerous members & types of businesses. Energy usage, maintenance, WiFi costs, and other equipment are all included in rental fees. Each tenant contributes to the cost of maintaining the overall space.
Repurposing Warehouse Space: Old Building, New Life
A practical solution for this shortage is to repurpose old warehouse space. ReadySpaces scouts locations that have potential then retrofit the space with all the necessities of an industrial workspace. The structure is already there; they just provide the components that make it serviceable to many.
Electric and WiFi are standard additions to the chosen spaces. Grade level doors and around-the-clock video surveillance systems are installed at every location. Splitting a once expansive, single-use space into many smaller individual units, these units range from 200 square feet up to 5,000 square feet. In proximity to these units, there are private office suites as well. The new building design includes conference rooms, kitchens, lounges, and other shared spaces. Everything necessary for conducting day-to-day logistics is available inside the same location.
The result is a space where dozens of businesses can find warehouse space for rent simultaneously. These dynamic spaces include a wealth of amenities and perks. Everything from production and distribution to meetings and luncheons can occur on the premises. These remodeled places appeal particularly to startups and small to mid-sized businesses.
The ReadySpaces model takes a more unconventional approach to storage and warehouse space solutions. With availability shockingly low, the marketplace for warehouse space is highly competitive. This can leave many businesses without the space necessary for their growth and success.
The lack of availability is especially tough on small to mid-size businesses, trying to compete with larger brands for space. ReadySpaces is striving to create more viable options for growing businesses.
ReadySpaces was founded in 2016 and has grown to almost 30 locations across the U.S. and Canada. ReadySpaces provides small, private warehouse space and offices in a shared coworking community. Facilities are specifically designed to cater to small businesses, contractors, entrepreneurs, and countless other use cases.
For more information, please visit: https://readyspaces.com
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