Daily NAPTA Update 01.10.2024

Posted by Diane Macri | Jan 10, 2024 | 0 Comments

Industrial Cooldown Continues: Warehouse Vacancy Rises To Highest Level Since 2020


Average warehouse vacancy rates in the U.S. rose to 5.2% in the fourth quarter of 2023 with 156M SF of new space becoming available, another sign the formerly red-hot sector has chilled from its pandemic heights. Q4 marked the second-highest quarterly construction completion on record, helping push the vacancy rate past 5% for the first time since the onset of the pandemic, The Wall Street Journal reported, citing a new Cushman & Wakefield report.

America's offices are in 'uncharted territory' as vacancies hit an all-time high

Business Insider

America's offices are trending in the wrong direction, even as the broader US economy looks to be on solid footing. According to a report from Moody's Analytics, which described the US office market as being in "uncharted territory" in a report on Monday, the national office vacancy rate climbed 40 basis points last quarter to a record-breaking 19.6%.

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