The pandemic has made warehouses more valuable than suburban offices, as workers stay home

Published by
The Philadelphia Inquirer

The old Charming Shoppes headquarters in Bensalem — a township bordering northeast Philadelphia — is now an Amazon warehouse. A former Bank of New York Mellon back office in King of Prussia is making a similar transition. And the building housing, a pop-music shrine viewable from the Blue Route in West Conshohocken, is also being marketed as a warehouse site. Even as the pandemic eases, Americans’ mass movement towards working and consuming from home has upended demand for business properties, making warehouses more valuable than suburban offices. “Land for offices used to be worth …

Read More