Port-proximate real estate demand continues to cool despite increased cargo throughput at top US ports as retailers shift their inventory strategy, according to a Cushman & Wakefield report.
Many retailers that leased excess space to shore up their supply chains during the pandemic are reverting to just-in-time inventory strategies, said Jason Price, senior director and Americas head of logistics and industrial research at Cushman & Wakefield.
"We expect demand to remain soft in the near term before the market inflects in 2025," said Price.
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