Partners Quoted by Law.com on Busy Times for Industrial Real Estate Sector
BCLP Partners Bruce “Eddie” Lowry and Jim Grice were quoted extensively June 7 in Law.com’s “Daily Business Review” column on the COVID-19 pandemic’s effect on the industrial real estate sector. The growing demand for online goods, for instance, has left many businesses in search of warehouse space. “This area has spiked. The vacancy rates are extremely low, if not at zero, for warehouse space,” Lowry said. “I don’t see this ending anytime soon, partly because the older generations, because of the pandemic, have now gotten used to the fact that they can have things delivered to their doorstep rather than having to go into a store, and they understand how to do that now and there’s just not enough warehouse space for that.” Lowry said the need is particularly strong for more “last-mile” warehouse space, or warehouse space close to population centers, which gives retailers the ability to get goods to consumers as quickly as possible. Another hot form of real estate property is data centers, which are industrial-scale technical facilities built to house servers. Grice, who heads BCLP’s global Data Center & Digital Infrastructure Team, said the work-from-home and e-commerce movements have made storing and processing data more important than ever. “We’re seeing a lot of new investor sources showing up, looking at this asset space as an alternative to more traditional real estate sectors,” Grice said. ”We’re just seeing this digital economy, this movement toward completely digital, continue to drive more and more need for server processor units operating the digital economy, the thing that we all rely upon.”
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