Developers say they can't afford to keep up with the institutional players that have been bidding for industrial assets.
Basis Industrial President and Managing Partner Anthony Scavo discussed South Florida industrial market trends and predictions for the sector going into 2025.
The sector is feeling a slowdown after the blistering pace of the e-commerce-fueled pandemic boom.
Tenants seeking to cut costs are trimming space in the popular market.
Roughly 2M SF of industrial space has been delivered so far this year.
Despite slow leasing activity and high interest rates, CRE development firm Turnbridge Equities finds thriving industrial spaces in NYC's outer boroughs.
The amount of industrial space under construction in the Lehigh Valley has fallen by 54% year-over-year, giving Scranton, Wilkes-Barre and Harrisburg an edge.
Industrial vacancy has increased for seven straight quarters.
As industrial construction slows, the imbalance between supply and demand is looking similar to the levels seen in the wake of the Great Financial Crisis.
Roughly 20% of Amazon's purchases in 2024 were in Virginia, but its most expensive deal was for a cutting-edge warehouse in Daytona Beach, Florida.
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