How ReadySpaces is Tackling the Warehouse Space Shortage
Demand for warehouse space is at an all-time high. The warehouse vacancy rate in the country is currently below 4%, a record low, with no signs of improvement. This shortage can be an issue for small to mid-size businesses with smaller budgets.
There is a dire industrial real estate shortage in the United States. Because of this, businesses must look for alternatives to traditional warehouse space. The good news is that affordable, versatile options are available and hopefully expanding.
Let’s look at what is prompting the shortage and what small businesses can do to find a property that meets their small warehouse space needs.
What's Causing the Shortage of Warehouse Space?
One key to the current warehouse space scarcity is the recent boom in e-commerce. More online shopping has meant more companies and businesses without brick-and-mortar locations need a place to store goods for distribution.
The pandemic has been a driving factor. It has prompted more consumers to choose online interactions over in-person shopping.
Another contributing issue is the supply chain crisis. Businesses are attempting to stockpile goods to counteract supply chain delays. Rather than a just-in-time viewpoint on inventory, companies are adding more inventory just in case.
The supply chain is also slowing the construction of new warehouses and storage spaces, and building supplies have been susceptible to shortages and delays. This has halted or restricted construction projects in many cases across the country.
Large companies that can afford it also seem to be buying up warehouse space amidst the fear of losing opportunities. Their proactive purchases are partially responsible for the lack of storage space availability.
Finally, the high demand for land in port cities makes adding warehouses difficult. It takes acres of cleared land to build a new facility. With demand spiking, property for potential industrial use is at an all-time low, and the available property value is at a premium.
Overcrowding of goods with few warehouses available is likely to continue. High demand is driving up prices for renting or buying space. This is an obstacle for small businesses, and it calls for a creative solution.
Our business model makes innovative use of existing spaces. We’re committed to adding more inventory of small warehouse space for rent. We also believe in empowering small businesses to thrive. Our goal is to offer them space solutions that are adaptable and affordable.
Our unique approach involves utilizing current warehouse structures. We focus on the building’s potential to be converted and repurposed into a space that meets business storage needs for numerous tenants.
One large company doesn’t own and occupy an entire building. Instead, we have developed a community approach to warehouses and workspaces. The space exists to serve the individual and also the collaborative group.
Energy usage, maintenance, WiFi costs, and other equipment are all included in rental fees. Each tenant contributes to the cost of maintaining the overall space.
ReadySpaces is working nationwide to revitalize former warehouses and industrial workspaces.
Repurposing Warehouse Space: Old Building, New Life
We believe in helping businesses grow. They need options for warehouses and workspaces that fit their budget and can be tailored to their size and operations.
A practical solution for this is to repurpose old warehouse space.
ReadySpaces scouts and purchases locations that have storage space potential. Then, we retrofit the space with all the necessities of an industrial workspace. The structure is already there; we just provide the components that make it serviceable to many.
Electric and WiFi are standard additions to our chosen spaces. Grade level doors and around-the-clock video surveillance systems are installed at every location.
We split a once expansive single-use space into many smaller individual units. These units range from 200 square feet up to 5,000 square feet. In proximity to these units, we add private office suites.
The new building design includes conference rooms, kitchens, lounges, and other shared spaces. Everything necessary for conducting day-to-day logistics is available inside the same location.
The result is a space where dozens of businesses can find warehouse space for rent simultaneously. These dynamic spaces include a wealth of amenities and perks. Everything from production and distribution to meetings and luncheons can occur on the premises.
These remodeled places appeal particularly to startups and small to mid-sized businesses.
Attainable, Affordable, and Versatile
Small businesses can attain the space they need now with room to grow later. They can accomplish this easily due to the variety of spaces available under one roof. Flexible leasing options give opportunities to expand with growth.
Because all amenities are included in the rental price, ReadySpaces allows for one streamlined, affordable payment. There’s no adding up expenses above and beyond the cost it takes to rent the space.
Price is dependent on the space you need, so you’ll only pay for what your business requires, but if you need to expand, you have that option too.
What Businesses Need
It’s time to take a more unconventional approach to storage and warehouse space solutions. With availability shockingly low, the marketplace for warehouse space is highly competitive. This can leave many businesses without the space necessary for their growth and success.
The lack of availability is especially tough on small to mid-size businesses, trying to compete with larger brands for space. We are striving to create more viable options for growing businesses.