Globest Sectors

While vacancies were elevated, there are a couple of positives.

There has been a three-fold increase in construction spending on manufacturing since 2021.     

However, things are expected to at least improve.

"Landlords remain confident in long-term demand," says Colliers.

So far, the developer has deployed roughly $385 million across 16 assets.

With a 5% year-over-year gain in January, the retail index outperformed all types.

The sector is expected to deliver the second-highest new supply since 2008 this year.

The South drew the most interest among prospective renters.