Global warehouse rents up 10% YoY, London most expensive | Food, beverage firms test cutting-edge tracking tactics | Grainger breaks ground on automated DC in Oregon
Warehouse rents globally, including service charges and taxes, were up an average 10% in June compared to the year prior, according to Savills. London ranked as the most expensive spot to retain goods at $41.68 per square foot, while Sydney, Los Angeles, Hong Kong and Northern New Jersey rounded out the top five.
Food and beverage manufacturers are testing new ways to monitor the flow of their products and protect them against knockoffs, including edible microchips, p-Chips that can withstand frigid temperatures and QR codes. "We keep fighting with new methods ... we won't give up," says Alberto Pecorari, who works with a consortium to protect the authenticity of Parmigiano-Reggiano cheese.
Grainger is building a highly automated distribution center in Gresham, Ore., outside Portland. Inbound operations are expected to start at the new distribution center by late next year with outbound operations beginning in 2025. Grainger's 11th distribution center, which will house more than 135,000 items, is expected to create about 80 jobs to start and up to 150 in total.
MarketWatch (tiered subscription model)/Dow Jones Newswires
(8/22)
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