In the U.S., 18-wheeler big rigs are synonymous with commerce, barreling down the country’s interstate system to deliver goods of all shapes and sizes to stores or straight to buyers’ doors. But while everyone is familiar with these hulking haulers, their role as a demand driver for a class of commercial real estate is more covert. The need for expanded and updated logistics infrastructure at our nation’s ports, airports and distribution centers has long fed demand for new warehouses. But the lack of spots is leading to a frenzy of interest and investment, especially in the wake of the growing industrial outdoor storage movement. “Drivers need a place to park overnight when they’re on the road, or simply a place to park when they get home, and that’s a problem that just hasn’t been solved,” Cresa head of research Craig Van Pelt said. Cresa research estimates there’s just one parking spot for every 11 trucks in the United States. In the last two years, national lease rates for truck parking have gone up 10% annually, Van Pelt said. That signaled a significant opportunity for investors. But getting in the parking game isn't as easy as it sounds. Factor in the increased price for industrial land due to warehouse construction — Van Pelt said there’s a record-high 600M SF of industrial under construction nationwide — and suddenly finding a place to park a truck in an already crowded real estate market becomes much more complicated. The shortage of… Read Full Story  | 
