William O’Donnell, managing partner of Prologis Ventures, the venture capital arm of the logistics real estate trust Prologis, cited a jaw-dropping stat in a discussion with FreightWaves CEO Craig Fuller on Tuesday.
According to a recent study, every 100 basis points in the shift of consumer spending from traditional retail to e-commerce equates to 46 million square feet in industrial space needs.
With the uptick in online shopping showing no signs of abating, “there is a tailwind we are riding right now,” O’Donnell said.
O’Donnell and Fuller engaged in a conversation about the intersection between warehouse technology and industrial real estate during FreightWaves’ Future of Logistics Real Estate Summit. The discussion touched also on broader trends reshaping logistics, including e-commerce, COVID-19 and the fundamentally social nature of human beings.
“At the end of the day, people get joy out of going into a store and seeing product,” O’Donnell said. Sellers today need to offer e-commerce and in-person …