Successful retailers are on the hunt for more space to meet the demands of digital shopping. For each additional US$1 billion growth in e-commerce sales, an additional 1.3 million square feet of distribution space is needed, said real estate consulting firm CBRE.
Given the trajectory, it is no wonder mall owners Simon Property and Brookfield Property Group are willing to acquire the bankrupt JC Penney for US$1.8 billion. One advantage is taking fallow space and hawking it for storage to the likes of Amazon.
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