Absorption

A key thesis in the report was focused on how the pairing of strong leasing and a decline in new construction held the overall quarterly vacancy rate at 6.6%, which the firm said reversed a stretch of quarterly losses that had been intact going back to the second quarter of 2022.

The national vacancy rate remaining low, at 4.8%, compared to a historical expansionary average of 6.1%, even as the pace of new deliveries quickened and added 70 basis point to market vacancies

In this podcast, Logistics Management and Peerless Media Supply Chain Group News Editor Jeff Berman interviews Ben Dean, Director of Logistics Strategy and Warehouse Solutions, for Seattle-based Flexe.

In its “U.S. Industrial Q3 2023” report, CBRE found that third quarter construction starts saw a 37% decline, from the second quarter to the third quarter, and a 64% annual decline, to 40 million square-feet (MSF), which CBRE said lowered the under-construction total, for the third consecutive quarter, to 479 MSF.

The fourth quarter of 2017 and the calendar year over all were very solid for United States industrial real estate activity, according to research recently issued by Chicago-based industrial real estate firm JLL. Two of the biggest takeaways of the research, entitled "First Look at Industrial," focused on the U.S. industrial vacancy rate and rents.