Marcus & Millichap Releases Cold Storage Property Research Report
May 03 2024 - 3:38PM
Business Wire
Marcus & Millichap (NYSE:MMI), a leading commercial real
estate brokerage firm specializing in investment sales, financing,
research and advisory services, announced today its 2024 Cold
Storage Special Report, which highlights the strategic advantages
of investing in cold storage properties.
“A rapid rise in online grocery sales has spurred demand for
temperature-controlled storage facilities,” said Alan L. Pontius,
national director of Marcus & Millichap’s Office &
Industrial division. “From 2019 to 2023, share of total online
grocery store spending grew 470 basis points to an all-time high of
over 16%. Heightened demand for online delivery and pickup options
for food has grocers, restaurant food service providers, and mass
market retailers expanding their operational footprints and
increasing their capacities for perishable item storage.”
Key research points:
- Cold storage spaces are an important link in the flow of
climate-sensitive goods, including food and pharmaceuticals.
- As online grocery spending has yet to reach its full potential,
demand for cold storage space is projected to increase.
- Population migration is a cold storage space demand driver as
prominent household relocation destinations are often far from
agricultural production centers.
- Cold storage space plays a vital role in the exportation of
agricultural products internationally, which heightens demand for
climate-controlled storage space near points of entry and in key
U.S. ports.
Access Marcus & Millichap’s 2024 Cold Storage Special Report
here.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm
specializing in commercial real estate investment sales, financing,
research and advisory services with offices throughout the United
States and Canada. As of December 31, 2023, the company had 1,783
investment sales and financing professionals in over 80 offices who
provide investment brokerage and financing services to sellers and
buyers of commercial real estate. The company also offers market
research, consulting and advisory services to clients. Marcus &
Millichap closed 7,546 transactions in 2023, with a sales volume of
approximately $43.6 billion. For additional information, please
visit www.MarcusMillichap.com.
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Gina Relva, VP of Public Relations
Gina.Relva@MarcusMillichap.com 510-999-1284
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