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Over the past two years we’ve become familiar with the terms ‘low vacancy rates’ and ‘it’s a seller’s/landlord’s market’. We have seen the vacancy rates drop from 5.1% in 2020 to 3.7% last year. So, what has caused this increase in demand and how is it effecting the market? Let’s dive in!

Everyone knows that The Shippers Group has its roots deep in the heart of Texas, but do you know where all of The Shippers Group facilities are located? Today, we operate 9 facilities totaling over 4 million square feet of space.

It’s no surprise that 2021 was a year of supply chain disruptions. From labor shortages to rising COVID-19 cases, to extreme weather events, we saw many events that contributed to growing port congestions and manufacturing delays. This resulted in a lot of out-of-stock, long lead times, and inflated prices as supply could not keep up with the rising demand.

A record number of COVID cases are being reported following the holiday season. The Omicron variant is highly contagious, but illness is generally not nearly as severe as the earlier Delta variant. Symptoms more closely resemble that of a common cold. In the past two weeks, spread of the virus is having significant impact on the workforce across almost every industry as those infected stay home to quarantine. If you do not feel well, please stay home to help prevent further spread of the virus.

This week marks the one year anniversary of the first COVID vaccine. Approximately 59% of people have been fully vaccinated, and anyone over the age of 5 years old is able to be vaccinated. If you have not been vaccinated, please consider doing so. The vaccine does not guarantee that you will not get COVID, but if you get COVID, your chances of becoming severely ill are dramatically reduced.

With the holidays upon us, the spread of illness is on the rise as people gather indoors. Please continue to follow guidance from the CDC to keep you and your loved ones safe.