Gregg Healy, EVP and head of industrial for North America at Savills, has no worries about the industrial asset class' long-term prospects. Reshoring, for example, is causing more companies to invest in the US with a diversified portfolio of manufacturing. "It will increase the demand for industrial sites and that, along with companies' desire to maintain more inventory as well as the continuous growth of e-commerce will all serve the long term," he tells GlobeSt.com. 

The short-term, though, is another matter. Simply put, industrial is experiencing a number of headwinds ranging from supply chain challenges to rising inflation and interest rates. It doesn't help that until recently the market was overheated, he adds.

The outcome of these various pressures has become clear: transactions have paused in many markets as investors try to navigate new price discovery trends. At the same time, capital markets activity for industrial has been slowing or stopped in some cases as lenders revisit risk-reward ratios for investment.