Real Estate in the U.S. focusing on Truck Parking Yards
Semiyard Inc
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Research done by top Real Estate companies in the USA indicates that the commercial real estate sector shifted its focus on trucking-related properties as demand for facilities and space has increased.
“There’s been very strong demand for industrial real estate” said James Breeze, global head of industrial and logistics research at #cbre . “What we’re seeing is that a lot of what we call occupiers, the people who actually occupy the buildings, are looking for more space to control inventories.”
“There’s been a major shift in the thinking of occupiers to hold more inventory,” Breeze said. “Prior to COVID, it was called just-in-time inventory strategy. They were essentially projecting how much inventory they would need. They were trying to keep inventory levels low as a cost-saving method. That essentially failed as COVID hit.”
Breeze also found out that the best year for industrial real estate leasing was the year 2021. This was particularly true for warehouses, with the biggest demand driver being leasing more space for inventory control. This year is on course to be the second strongest.
“The market continues its pretty torrid pace of investment activity that has been going on for the past 24 to 18 months,” said Erik Foster, head of industrial capital markets at commercial real estate firm Avison Young. “It was toward the end of the summer of 2020 when people started to realize that the industrial asset class did not get affected by the pandemic.”
Semiyard, the company that is fighting hard to tackle the truck parking shortage problem is also focusing on real estate and acquiring properties in key transportation markets to provide truck parking.
“Truck parking has been an issue for years, decades,” said Jora Singh, CEO at Semiyard Inc said. “The truck parking issue is going on for decades and we still have no solution. I believe not the government or the industry never took it seriously because, we, without legislature, government or industrial support, have the solution of the truck parking problem.”
“We’ll buy existing lots that are already stabilized, have been operated,” Burney said. “We’ll go buy those, spend a lot of capital dollars to improve the security. A lot of these aren’t even fenced. We’ll put in lighting, clean up, fix the stabilization and then we operate and lease those properties to owner-operators on a monthly basis.”
Jora Singh - Semiyard Inc.
Real estate requires huge dollars to invest in the properties. That is why Semiyard is committed to buying or acquiring the needed real estate lots and turning them into parking yards. On the other hand, we are also leasing the already established truck parking yards and listing them on the Semiyard Driver App.