That’s how much new warehouse space is needed to keep pace with the tremendous rise in e-commerce across the country. Experts predict that new construction—lots of it—will be in demand, as e-commerce is projected to have even more growth.
Specifications: New Construction Needed
By 2025, e-commerce will account for 26% of all retail sales in the United States. As reported by Construction Dive, this growth will demand specific new warehousing spaces:
“A significant amount of new construction will be needed in the next few years just to keep pace with robust demand,” John Morris, executive managing director and leader of CBRE’s Americas Industrial and Logistics and Retail businesses, said. E-commerce-specific fulfillment centers will have features that are different from traditional warehouse space.… This includes more parking, 30- to 40-foot clear height inside the warehouse, maximizing dock doors, increased power access and ventilation….
Time to get building, right? Let Colonial Surety help you. We’ve taken the pain out of the old fashioned bonding process, making it easier—and more confidential than ever—for contractors to obtain, manage and monitor needed bid, performance and payment bonds. Why not get a jump start on new action today? Contractors who complete a brief (we promise!) pre-qualification for Colonial’s surety line of credit even receive, for free, Dun & Bradstreet scores.
Once approved for The Partnership Account® with Colonial, you’ll:
- Use your private Owner’s Dashboard® for a personal window into your underwriting profile. Review the statistical analysis of your financial statements and free Dun and Bradstreet scores, profitability, and more.
- Access a powerful online surety management system to issue bid bonds, order performance, and payment bonds, update work in progress, check your current and aggregate limits, view open and closed bid and performance bonds, and more.
- Clearly see your bonding limits, and always have direct access to our underwriter if you need the excess capacity to bid on a job.
- Protect the confidentiality of your bids—after all, no one’s in the middle when you do it yourself, right?
Let’s get you going today: The Partnership Account®
Warehouse building in support of e-commerce growth is not the only storage construction needed to keep up with the times. Data centers are also in big demand, with cloud-based services, remote work trends, online shopping, and the use of sophisticated data analytics all on the rise. More data—more space. What’s the next project on your win list? New waterfront parks are on the drawing boards around teh country. So are some big dig infrastructure efforts. Let’s get you t armed with The Partnership Account® from Colonial Surety Company. Then, you can go after lots more new projects with speed and confidence — knowing your bidding and financial information is secure.
Colonial is built on reliability, affordability and dependability. Founded in 1930, we have proven long-term financial stability; we’re licensed in every single state in the U.S.; we are listed by the U.S. Treasury as an approved surety; and we’re rated “A” Excellent by A.M. Best – an accolade of which we are extremely proud. Let’s Partner!