Why is warehouse space continuing to see an increase in demand?

Boosalis Properties represents seller on $1.1 million warehouse sale.

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Nov 19, 2019, 10:00 ET

WOODBRIDGE, Va., Nov. 19, 2019 /PRNewswire/ -- Melanie Nobriga and George Boosalis represented the seller in a multi-unit warehouse sale totaling $1.1 million. The location of the property was in Manassas, Virginia within the Build America 8 complex on the corner of Route 66 and Route 234. The Boosalis Properties team lead the sale with several marketing strategies, resulting in the fastest sale of four or more units in that area. Boosalis Properties focused on local and regional buyers through online SEO, Google AdWords, analytics, LoopNet, CoStar, mailing lists and a rolodex of businesses and clients in the market.

Exterior Warehouse parks have seen a large increase in demand.

Warehouse businesses continue to thrive as the internet era keeps growing.

Melanie Nobriga said, "We were proud to provide our clients with a service that they were happy with and satisfied their commercial real estate needs. We feel that the best transaction is the one that is beneficial for both the buyer and seller."

There has been an influx of demand for warehouse space in Northern Virginia. We feel in years to come, this demand will continue to grow. There are many reasons the interest in warehouse space is on the rise. As businesses continue to grow their online presence, there is less of a need to lease or buy traditional retail space which can cost two to five times more, per square foot in Manassas, Lorton, Fairfax and other nearby suburbs. Local governments are continuing to discourage and disapprove warehouse permits and construction which creates a limited supply on new space within the market. Warehouse parks are also being bought by developers that are continuing to demolish them for high density construction projects.

Also, many investors cannot afford multi-million-dollar investments into shopping malls and/or office buildings in or around the Manassas area. Warehouses are a reasonable, entry level investment for someone looking to purchase commercial real estate without breaking the bank. For all these reasons, this is creating a situation where there is a higher demand and lower supply. We feel the prices (to lease or buy) of warehouses will continue to rise and have created a great opportunity for investors to get in ahead of the curve.

Let us know if we can assist you with any questions about your investment or leasing requirements, whether office, retail or warehouse space. Boosalis Properties is always here to guide you through your commercial real estate brokerage needs.

CONTACT:
George D. Boosalis
7034947691
[email protected]

SOURCE Boosalis Properties