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Industrial Vacancy Rate Expected to Peak at 6.5% in H2

Meanwhile rents will continue to climb.

By Richard Berger | January 11, 2024 at 07:46 AM

The industrial vacancy rate topped 5% in the fourth quarter for the first time in three years and that trend is expected to continue through 2024 as new supply outstrips demand, according to Colliers’ Craig Hurvitz in a new report.

He said the vacancy rate is forecast to stabilize at around 6.5% during the second half of 2024, while markets with a significant amount of new product relative to the overall industrial inventory may see rates exceed 10%.

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