A recent JLL report indicates the industrial real estate market is experiencing a “period of adjustment” due to a slight demand decline, with requirements dropping 1.8% annually to 792,000 square feet. Key factors influencing this trend include inventory costs, interest rates, and supply chain issues. Notably, manufacturing demand rose by 20%, driven by reshoring, government incentives, and sustainability initiatives. The 3PL and logistics sectors are leading demand, with a shift toward modern facilities expected to impact future leasing and development significantly.

Source: https://www.logisticsmgmt.com/article/new_jll_report_addresses_a_period_of_adjustment_for_industrial_real_estate_market/lm_march_2019