Industrial fundamentals showed increasing signs of slowing in the third quarter as the turbulent macroeconomic environment persists, according to JLL.
With decreased leasing velocity and sluggish pre-leasing rates, industrial absorption figures continued to slow. With the wave of new deliveries, the vacancy rate increased 70 basis points quarter-over-quarter to 4.9 percent, as anticipated. While this figure seems high on the tail of historic low vacancy rates during the COVID-19 era, the current figure is below the historical average, which was 7.7 percent in 2013.
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