Normality is returning to the shipping world as container cargo volumes are declining to pre-pandemic levels. At the same time, industrial vacancy rates in related markets are heading in the other direction.
CBRE's 2Q 2023 Port Watch report shows overall industrial vacancy rates in seaport markets rose 3.5%, or 50 bps, while inland port markets saw a 4.6% increase and non-port market vacancies were up 3.7%.
However, markets with the lowest vacancy rates were all seaports, with Charleston, Los Angeles, Oakland and Portland benefiting most.
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