Pandemic makes warehousing stocks reach 380 mn sq ft by 2024

The covid-19 pandemic brought a paradigm shift in consumer behavior from offline to online shopping leading to increased activity in sectors like e-commerce and third-party logistics, in turn leading to increased logistics and storage requirements in urban settings which is expected to take the warehousing stock in India to 380 million sq ft by 2024, according to JLL report.
The total stock of Grade A and B warehousing space in the top 8 cities increased at a CAGR of 16% from 2018 to September 2021.
“Growth in the supply of Grade A spaces over the years is due to high demand for spaces with high specifications, citing increased inclination for high-grade structures and introduction of new players in the market. The Indian market has now firmly established itself for a more predominant position in Grade A space as opposed to Grade B spaces,” said Yogesh Shevade, Head, logistics and industrial, India, JLL