Friday, August 1, 2014

The Economist | Commercial property: Stores of value

The Economist
Commercial property
The rise of e-commerce has set off a boom in the market for warehouses

NEW JERSEY

THE Manhattan skyline looms over the horizon on the northern stretch of the New Jersey Turnpike, which wends from the Philadelphia suburbs towards New York. But the glamorous skyscrapers across the Hudson River are no longer what most excites property investors. Instead, some are betting on a clump of nondescript, low-rise structures around the highway's midpoint: warehouses that serve as "fulfilment centres", dispatching orders for the surging online-retail business.



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