The past few years have presented head winds to businesses and financial assets first with the Covid pandemic and then with inflation. When we started our class, I talked to you about systemic changes that disrupted existing paradigms and led to new ones. The change from horse drawn carraiges to automobiles was one and we saw how carraige houses were remnants of this change. A second was the arrival of container shipping in the post World War II era and we saw how this led to the fall of the Brooklyn Waterfront and Industry City in particular, and gave rise to the inter modal transport hub at Port Elizabeth, NJ. We are living through a period of major change now driven by digital technologies and the rise of e-commerce. This has affect the real estate sector in different ways. Which of the sectors below has benefitted most from the rise of e-commerce?

		Enclosed malls
		Logistics and distribution
		Office
		None of the above

please provide explanation