The Future’s Open Wide
September 21, 2022
Ports are scrambling to find space. Pop-up warehouses and lay-down yards are filling up as fast as they materialize. It’s not forecast to end anytime soon, say reports from every corner. So just as water seeks its own level, the flood of logistics space demand is uncovering new, promising markets.
Cushman & Wakefield’s Q2 2022 report released in July revealed “another record-setting quarter with demand continuing to outpace supply for the seventh quarter in a row,” driving vacancy to a new all-time low of 3.1% as the quarter saw overall absorption of 120.4 million sq. ft., with 699 million sq. ft. of industrial space under construction — up by nearly 47% over the total under construction at mid-year 2021.