As we enter the second half of 2024, the industrial market has softened, but remains fundamentally strong with a market-wide vacancy rate of 5.3%, a marginal increase from 4.9% at the end of 2023. Rental rate growth is moderating, but tenants that have not been in the market for several years are experiencing sticker shock from proposed rates that may be 50% or more higher than their current rates. While rents will vary based on location and building quality, as a general example, quoted rents for a tenant with a 20% office finish and 80% warehouse have gone from a blended net Continue reading
2024 Mid-Year Industrial Update
