04/29/2026
๐ ๐ฒ๐๐ฟ๐ผ ๐ฉ๐ฎ๐ป๐ฐ๐ผ๐๐๐ฒ๐ฟ ๐๐ป๐ฑ๐๐๐๐ฟ๐ถ๐ฎ๐น ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ | ๐ค๐ญ ๐ฎ๐ฌ๐ฎ๐ฒ
After several years of record-low vacancy and rapid rent growth, the industrial market is shifting into a more balanced phase.โจ
Leasing activity is returningโbut tenants are more selective and focused on efficiency rather than expansion.
๐ Whatโs changing:โจโ๏ธ Vacancy rising to ~3.5%+โจโ๏ธ Availability increasing (~6.0%)โจโ๏ธ New supply from 2023โ2025 cycle hitting the market
At the same time, landlords are adjusting to softer conditionsโoffering incentives, flexible terms, and more competitive pricing, particularly for older product.
๐ Key takeaway:โจWeโre entering a stabilization phaseโnot a downturnโand the window for tenant leverage is open.โจAs development slows, todayโs conditions may create the foundation for the next tightening cycle.
๐ CBRE, Altus, Marcus & Millichap