The 7.3% year-over-year increase is good news for landlords that have been coping with a supply surge, but the overall industrial market is still down from its record highs in 2022.
According to a new research study, the light industrial subsector demonstrates particular resilience even during turbulent times, especially when compared with other property types, including larger industrial assets.
Industrial has been the star of all the different sectors coming out of Covid, especially in metropolises that are super high density like South Florida. With a constraint on land, one of the growing trends in CRE is converting vacated office space into industrial use.