In the latest episode of "The Freight Caviar Podcast", we sit down with Andy Hedrick, CEO of Green Path Tech. He shares insights on how your business can be more sustainable, and talks about their fuel-saving technology.
Prologis CEO Hamid Moghadam predicts warehouse rents will continue to rise, even as other supply-chain costs fall from pandemic highs. Lease prices have proven more resilient than transport rates, which have sharply dropped due to a shift from goods to services, inflation, and higher borrowing costs. However, rent hikes are moderating as market conditions normalize. Prologis anticipates a 5% to 10% rental growth across its portfolio this year, down from last year's nearly 30%.
Warehouse vacancy rates have risen slightly to 2.5% from 2% in the previous quarter, due to cargo rerouting to East Coast and Gulf ports to avoid potential West Coast labor disputes.
To make it a perfect storm, the rent for warehouse has been steadily going up since the beginning of QE. A double triple whammy for businesses in goods trade, higher rent, higher payroll, higher insurance costs amid reduced demand, lowered margins and more cautionary customers
Hi! I'm Adriana and I've been working for FreightCaviar as Head Writer for a little over a year now. Some of my favorite topics to cover are FreightTech, Green Freight, and nearshoring/reshoring.
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