Despite the unfavorable economic headwinds, commercial warehousing is holding its own. A new report from market research firm Armstrong & Associates shows that the public and contract warehouse market saw growth of 7.7 percent over year-ago levels in 2007 and has now reached $37.5 billion in revenue.
In total, the U.S. commercial warehouse system includes roughly 8,000 contract and public warehouses, with an estimated 1.3 billion square feet of space, according to the report, Warehousing in North America—2008. Armstrong estimates that commercial facilities now account for one-third of the country's warehouse space.
In addition to market statistics, the report includes financial data for contract warehouse operations. It also lists the top dry and refrigerated warehouse operators, as measured by revenue. The study is available for purchase at www.3plogistics.com.