Colliers’ report, “Big-Box Outlook, North American Industrial/Midyear 2024,” analyzes the current Big Box industrial market, defined as modern buildings exceeding 200,000 square feet. While this sector previously thrived during the pandemic, demand and supply have returned to pre-pandemic levels, leading to increased vacancy rates. In the first half of 2024, new supply dropped 28%, and vacancy rates rose to 10.3%. Although rents increased by 6.9%, the pace has slowed due to excess available space. Experts anticipate improved demand and stability in the market by mid-2025.

Source: https://www.logisticsmgmt.com/article/colliers_midyear_2024_report_big_box_industrial_outlook_shifts_with_softening_demand_and_slower_rent_growth/