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The availability of industrial space in the US declined in Q1 to its lowest level since 2001 while rents continue to rise, yet new construction will limit both trends over the next two years, according to CBRE Group.
E-commerce has pushed industrial availability to unusual lows as demand keeps increasing for facilities to handle e-commerce business requirements, such as same-day delivery and reverse logistics, World Property Journal reports.
And the numbers reflect it—industrial availability fell 9.2% in Q1 while industrial rents jumped up 5.3% last year to $5.74 per SF.
But that growth won’t last forever, CBRE says, due to new construction, which shot up nearly 14% last year. And analysts expect it to keep on rising over the next two years. [WPJ]
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