The U.S. industrial development pipeline has slowed in recent quarters, following two years of record deliveries, and is likely to continue to shrink in coming years, CommercialEdge said in its July 2024 National Industrial Market Report.
Through the first six months of 2024, 97.8 million square feet have been started, down from 147 million square feet a year ago, the report noted.
"This slowdown has been driven by normalizing demand from tenants, the record level of new supply recently delivered or set to be delivered, higher costs of construction loans and economic uncertainty," CommercialEdge said.
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.
