Though the Europe, Middle East and Africa (EMEA) region is expected to show slower growth this year due to a sluggish global economy, Spain, the Netherlands, Austria, Belgium, Sweden, Denmark and the UK are forecasting higher yields. Yields should remain steady in other EMEA markets or possibly show a decline, the report says.

Though North American markets as a whole were not as strong during this year's first half as they were in the first six months of 2007, Western Canada is outperforming that period. But the report expects industrial conditions to "hold steady" in North America as a whole or slightly decline.

Economic growth rates will be the highest in China, increasing 9.8% this year, and India, up 7.7%. Those conditions are expected to slow slightly next year. Warehouse in Asian port cities remains strong with Hong Kong, Singapore and several markets in Japan, commanding $15 rent per sf.