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.
industrial rents Archives - Miami Airport Warehouses
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Prologis Anticipates Industrial Rents Will Increase 10% This Year
Some markets are also expected to experience more interim vacancies due to an abundance of speculative space under construction.
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How Prologis Calculated That Industrial Rents Will Rise 22% This Year
Prologis said unprecedented “pent-up” demand for warehouse space due to e-commerce growth and inventory restocking will continue to outpace supply and new construction, holding industrial vacancy rates in 2022 at a record-low 3.3%.