Industrial leasing activity fell below 200 million square feet in Q2, according to Cushman & Wakefield's report, but only so because there "simply isn't space to lease," said its top researcher.
That was part of the report's positive news that included the vacancy rate falling to an all-time low of 3.1 percent. This was the seventh quarter in a row that demand outpaced supply.
The quarter saw overall absorption of 120.4 million square feet (msf), up 3.9 percent quarter-over-quarter (QOQ) but down 10.4 percent year-over-year (YOY). New leasing activity recorded 187.1 msf, down 15.3 percent QOQ and 25.7 percent YOY.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
