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.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
