The current state of the economy, coupled with an ongoing pandemic – and an evolving workplace – has had a major impact on the real estate industry. Supply shortages have delayed new construction, while city dwellers seek suburban bliss. Rates are at historic lows, but are expected to rise gradually. Inflation is also on the rise. Basically, many factors are causing an unprecedented period for the housing market. But what about the other side of real estate? An altogether different beast, the industrial sector is primed for success. Here’s why you should be careful.
The e-commerce industry is on a long-term upward trend, with no signs of slowing down anytime soon. More people are staying at home than ever before, leading to an increase in online shopping. With the growing demand for contactless shopping, the need for warehouses and facilities to support this industry is also increasing. And while the supply chain that connects products to consumers isn’t working well, local businesses can benefit from redirected demand. In fact, companies like Amazon and GameStop are making the news buying up more warehouses and distribution centers. Growing 48% between 2019 and 2021, e-commerce is expected to nearly double over the next four years.
It’s not just traditional retailers that are taking over valuable warehouses, distribution centers and manufacturing facilities, as evidenced by the rise of the cannabis industry and the growth of digital currency.
As legalized cannabis creates more and more multi-million dollar businesses, the need for industrial property grows. A high growth business wherever it is legalized, as marijuana farms expand so does the need for more facilities. Industrial real estate will continue to benefit as long as it can keep up with construction and rental availability.
Cryptocurrency is another term we hear everywhere. With the world of digital currency being so new and complex, it’s easy to forget about the physical space needed for something digital. But there are companies that specialize in crypto mining, which requires a lot of space in a controlled environment. As this industry becomes more and more lucrative, early innovators are buying warehouses to expand their operations and earn even more money.
The virtual assistant factor
But why does MyOutDesk care? Because there are many roles in this equation that our virtual assistants integrate perfectly. Businesses trying to grow efficiently, or those already growing, turn to us for cost-effective help.
Daniel Ramsey is the founder and CEO of MyOutDesk, ranked #1 virtual assistant service by TechRadar. With over 6,000 clients and over 700 verified five-star reviews, it helps businesses gain much-needed leverage from virtual real estate professionals.
To learn more, visit www.myoutdesk.com/services.