NAIOP pinpoints 2025 as when the industrial market will start to expand.
It estimates that quarterly net absorption of industrial space will average 14 million square feet per quarter over the next two years, or 62.8 and 49.1 million square feet in 2024 and 2025, respectively.
This forecast represents a relative "cooling" trend following what had been a protracted period of above-average industrial absorption following COVID-era demand shifts that accelerated the need for distribution space to meet consumers' increased preference for home delivery.
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