Industrial demand is expected to soften heading into 2023 but will be tempered by an expected uptick in e-commerce growth, according to new research from Colliers.

In a report tracking the top 25 industrial markets, the firm noted that none of the metros it surveyed reported vacancies in excess of 7%. However, three reported vacancies north of 6%: Denver (6.6%), Milwaukee (6.5%) and Memphis (6.2%). On the other end of the spectrum, burgeoning demand pushed vacancy lower than 3% in eight metros: greater Los Angeles, Cincinnati, Columbus, St. Louis, the New York City metro, Phoenix, Minneapolis and the San Francisco Bay Area.

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Lynn Pollack

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