Absorption of industrial property doubled in 2Q2024, even though the industrial vacancy rate rose to 6.1%, exceeding 6% for the first time in nine years.
The market's absorption of 46.3 million SF reflected healthy market fundamentals, according to new data from Cushman & Wakefield.
"Although vacancy has continued to climb, it remains well below the 10-year pre-pandemic (2010-2019) average of 7%., Despite the rise in vacancy, industrial markets are showing increasing levels of demand after a sluggish Q1," said Jason Price, Americas Head of Logistics & Industrial Research at Cushman & Wakefield.
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