After unprecedented, accelerated growth in 2021 and 2022, industrial and logistics operators have taken their foot off the gas when it comes to new development and has even hit the brakes – at least this year – according to a new report from Colliers.

New supply tallies have set all-time highs of 450 million square feet through the first three quarters of 2023, up 33% year-over-year, it said,

Colliers also noted that demand for industrial product during the past 36 months "may never be repeated in our lifetimes."

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