• The Wall Street Journal this morning reports that "new warehouse construction across North America is expected to outstrip demand over this year and next, according to a new report that suggests a yearslong boom in industrial space fed by e-commerce growth may be shifting in favor of tenants."
The numbers are clear: More than 300 million square feet of warehouse space is expected to be opened this year, and another 272 million square feet next year, but tenants are expected to lease only 272 million and 218 million square feet, respectively.
The Journal writes that "tight space has driven down vacancy rates and driven up rental prices, but companies said last year that the industrial real-estate market was getting closer to a balance between supply and demand."
The numbers are clear: More than 300 million square feet of warehouse space is expected to be opened this year, and another 272 million square feet next year, but tenants are expected to lease only 272 million and 218 million square feet, respectively.
The Journal writes that "tight space has driven down vacancy rates and driven up rental prices, but companies said last year that the industrial real-estate market was getting closer to a balance between supply and demand."
- KC's View:
