Will there be logistics demand for all that dirt?
Frieghtwaves, Mark Solomon (Monday, November 13, 2023)
Given its massive size — more than 1 billion square feet of logistics warehousing across the globe — being known as the Prologis of anything is aspirational for most real estate developers. That’s especially true for Zenith, less than 3 years old and looking to redefine the industrial outdoor storage (IOS) industry, a legacy business built around open-air dirt facilities that have multiple uses off traditional warehouses’ beaten paths.
Atkins said that IOS has emerged foursquare on logistics warehousing’s radar screens in the wake of COVID. In a recent interview, Atkins said that he sees IOS as a $300 billion addressable market in the U.S. alone. There are a handful of IOS development providers in the country.