WASHINGTON, D. C. –The US real estate crash is creating opportunities for fleets wanting to build new terminals, according to a recent report.
Traffic World has published a special report entitled Terminal Buy Time, which indicates that the time is right to be eyeing up commercial properties in the US. The report says this is the best time to buy property for US terminals since Consolidated Freightways went under in 2002, making 280 terminals available for sale.
Fleets with strong balance sheets are seeing the best real estate market in years for expanding and upgrading LTL terminal networks, according to the report.
“The recent collapse of commercial real estate has provided a rare opportunity for companies that previously had a hard time finding space for terminals,” said Traffic World editor-in-chief, Paul Page. “It’s the flip side of the real estate crash, at least for trucking companies that have the cash to take advantage.”
“This is the biggest high point as far as properties being on the market. There’s still a lot of pressure on the industry and potential for more closures this year. I don’t think they’ve hit their peak yet,” agreed real estate broker Will McFarlin of Burr and Temkin.
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