In Seven Supply Chain Predictions for 2024, the logistics development powerhouse makes some appropriately large-scale forecasts. And how did Prologis’s forecasts for 2023 fare? A bit mixed, but more right than wrong.
The industrial property sector is currently undergoing significant changes due to various factors such as technological advancements, changing consumer behaviors, and the global economic climate. These changes are expected to shape the future of industrial property, presenting both challenges and opportunities for real estate stakeholders.
Industrial returns might drop until the industry moves to logistics 2.0 properties. Even warehouses that are extraordinarily well located could be left to compete for a much smaller pool of tenants if their buildings do not meet the technological needs of potential occupiers.
Updates and projections for commercial real estate’s hottest sector were discussed at the recently held NAIOP I.CON East industrial real estate conference, with more than 1,200 leaders attending from around North America.