The outlook for the industrial real estate market is looking brighter than expected, according to the latest NAIOP Industrial Space Demand Forecast.

The forecast has been revised upward from August 2022 to account for the resilient economy and amended historical net absorption data, NAIOP, the commercial real estate development association, said.

Despite rising interest rates and the growth of new space being developed, low vacancy rates will continue to support growth in rents and property values.

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