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Why is there a Shortage in Warehouse Space?

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Some days this feels like the best of times for those who operate logistics companies and who operate industrial real estate, but the worst of times for those looking for a bargain on warehouse space. There has been significant economic growth, and the U.S. industrial market continues to expand. Nationwide, warehouse vacancy decreased to 4.3% in the first quarter of 2019. This is near the lowest this number has been since this data began to be tracked in 1980. In certain markets, it is even lower, sometimes just a few properties. Moreover, the Class A and B space was the first to be absorbed; much of what is currently available is Class C and D, and these are mostly 50-year obsolete properties and shuttered manufacturing plants. In response to this trend, new warehouse construction is going through the roof, with 258 million square feet in new space under construction, the majority of which are speculative buildings. However, this supply of new warehouses is still less than current demand. Are you challenged to find high quality warehouse space and service providers where and when you need them?  Spartan Logistics has been planning for this day for 30 years.  Read More

Consider a Logistics Warehouse/RDC in Napoleon, OH

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 As the economy continues to prosper, e-commerce sales have become a way of life and manufacturing production overruns are becoming increasingly familiar. So where do you turn? You could consider an expansion to the existing property or locate a 3PL warehouse to store 50,000-100,000 square feet of production overruns as inventory and manage it for you. It’s not often that industrial property with >100,000 square feet is readily available. Q1 2019 saw a slight uptick in vacancy rate to 5.0 percent—so all eyes are on leasing activity now. Spartan Logistics customers reach out knowing our unique expanded 3PL services include our affiliation with NAI Harmon Group of Toledo, OH, and Logan Creek Construction of Oregon, OH. Having these resources gives Spartan Logistics an opportunity to differentiate and locate available industrial real estate options for our potential and existing customers with a diverse portfolio of commercial property all across the US.    Read More

Topics: Warehouses in Toledo Ohio, Industrial Real Estate Market, Supply Chain Strategy, Regional Distribution Center, NAI Harmon Group

Interning at the Family Owned Logistics Business

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I have heard about the family logistics business for as long as I can remember.  I've heard my parents and grandparents come home and talk about the latest successes or failures of the company. I never really understood what they were discussing and wasn't always interested at such a young age.  All I cared about was sports and being outside with friends. My Summer Internship:  My name is Nick Harmon and I will be a sophmore, majoring in Business at Mount Vernon Nazerene University in Mount Vernon, OH. This summer I was given the opportunity to intern at my family's business—Spartan Logistics in Columbus, OH.  They are a  third-party logistics (3PL) logistics company, family owned and operated since 1988.  They've grown from a small, regional public warehouse and distribution provider, to a logistics company with 13 strategically placed locations throughout North America.      Typical Responsibilities on the Job: Over the summer, I was tasked with working on financial projection spreadsheet projects, assisting in marketing functions, and also hands-on experience in the warehouse.  I accompanied my Grandfather on business trips and meetings. All of these opportunities have truly changed the way I view the business and the business world. It has made me appreciate how important the family business is to so many people, and has helped me gain insight into what a successful business should look like.    Read More

Topics: Logistics Internship

Why can't I find warehouse space?

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Some days this feels like the best of times for the those who operate logistics companies and who operate industrial real estate, and the worst of times for those looking for a bargain on warehouse space. Despite moderate economic growth, the U.S. industrial market continues to expand. Nationwide, warehouse vacancy decreased to 9.2%-in the first quarter of 2016. This is the lowest it has been in 15 years. In certain markets, it is even lower, sometimes just a few properties. Moreover, the Class A and B space was the first to be absorbed; much of what is currently available is Class C and D- mostly 50-year obsolete properties and shuttered manufacturing plants.  National warehouse and distribution center demand is running from between 225 million and 230 million square feet per year lease, while new supply remains at roughly 165 million square feet. Are you challenged to find high quality warehouse space and service providers where and when you need them?  Spartan Logistics has been planning for this day for 25 years.  Read More