- USA | 27 March 2020
How did your company navigate through the challenges of 2020?
COVID-19 brought profound impacts across all industries, and unfortunately, many businesses were severely affected. We were redirected significantly due to several canceled construction projects initiated by owners unsure about the future amidst the unclear capital situation during the early stages of the pandemic. For instance, we had plans for a four-story office building that stalled indefinitely. The uncertainty surrounding the office industry might lead to a shift from multitenant to single-tenant buildings. However, developers remain cautious about making substantial commitments until the COVID situation stabilizes. Our current backlog starkly contrasts with what it looked like in January 2020.
How has technology influenced the design and development of industrial spaces?
Technology, especially driven by e-commerce, has been pivotal in shaping the design of industrial spaces. We’re constructing facilities equipped with extensive conveyor systems running at high speeds. Distribution companies are transitioning from manned forklifts to unmanned ones and robotics. The significant evolution lies in how these companies internally move, sort, and handle products to meet next-day or same-day delivery targets, heavily reliant on last-mile distribution. User interfaces in the tech sphere have dramatically altered shopping behaviors, fueling advancements in distribution technology.
What level of activity have you observed in the industrial marine segment?
We’re fortunate to have secured a contract for constructing a 250-slip dry stack boat storage facility in Fort Lauderdale. Undoubtedly, the marine industry holds significant importance in our community, evident in the widespread expansions of marinas throughout the area.
Which areas do you foresee as potential hubs for increased activity?
In Fort Lauderdale, identifying a single standout neighborhood is challenging due to our landlocked situation. However, our focus lies on redevelopment, particularly in densely populated areas on the east side of Broward County. Transforming older industrial spaces that no longer meet current distribution needs into last-mile distribution centers for quicker deliveries is an area of interest, requiring demolition and redevelopment to align with current demands.