Tokyo, June 28, 2017 - CBRE today released a ViewPoint report titled, “Evolving Logistics: Multi-use and Refrigerated Warehouses” which looks into how the advanced and versatile specifications of large multi-tenant logistics facilities (LMTs) are attracting industries beyond logistics.
Key points:
- New supply of logistics facilities in Japan is rising, particularly in the Greater Tokyo area, and potential oversupply is becoming a concern in some areas. However, demand relating to e-commerce continues to be strong, and there are other sources from which demand for state-of-the-art logistics facilities looks set to expand.
- Applications of logistics facilities are expanding beyond storage and delivery, particularly for LMTs with high specifications. Other uses include offices, call-centers, research and development facilities, and factories. This implies that LMTs are shifting to the next stage of its evolution and becoming “multi-use industrial assets”.
- The traditional storage and delivery functions of LMTs are also likely to expand to include refrigerated storage which to date has been mainly provided by self-owned or built-to-suit facilities. The backdrop of this potential market transformation is the issue of aging existing facilities, as well as changing dietary and consumption habits, both domestically and abroad.
“In addition to traditional storage and deliveries, LMTs are now also being used as manufacturing spaces and refrigerated warehouses. Demand is likely to expand further.” comments Wataru Sato, senior director of CBRE's Tokyo Industrial Services group. “New technology and designs are reducing the cost and time to install refrigerators, and are being adopted by landlords seeking to differentiate their properties to attract tenants."
For details of this ViewPoint, please check our website.
http://www.cbre.co.jp/EN/research/Pages/Special-Reports-ViewPoints.aspx
Figure 1: Evolution from multi-tenant to multi-use
Figure 2: Age of refrigerated warehouse supply in the Tokyo metropolitan area
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Press Release【Japan ViewPoint】 Evolving Logistics: Multi-use and Refrigerated Warehouses
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