America’s biggest warehouse is full as sales slow
STORY: U.S. retailers who panic-ordered while shelves were empty have filled America’s largest warehouse market
Inland Empire warehouses have 1.6 billion square feet of storage space, 44 times larger than Central Park
Source: Cushman & Wakefield
But their vacancy is at 0.6%, among the lowest in the nation
It’s due to shipments from Asia, ordered months ago, arriving just as consumer demand has slowed down
Retailers now face a choice whether to pay more to store unwanted goods - or sell at a discount
Consumer spending is up, but retailers like Walmart say surging gas and food prices are pinching lower-income customers
Target warned it has an overflow of televisions, kitchen appliances, furniture and clothes
Entrepreneurs are marketing vacant stores, like former Sears locations, as one answer to easing the log jams