RECALIBRATING MARKET DYNAMICS
In 2021 and 2022, the industrial market experienced record-setting growth, with extremely high levels of demand, historically low vacancy rates, and an unprecedented rise in rental rates.
However, the sector began to soften in 2023 as overall fundamentals shifted. During previous cycles, when long-term fundamentals deviate, whether overly positive or negative, they tend to course correct and recalibrate. This has been the ongoing trend in the industrial market throughout 2024.