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Only one major US or Canadian industrial market is currently landlord-favorable, according to the Jones Lang LaSalle Industrial Property Clock. By contrast, about half the Mexican markets tracked remain landlord-favorable, though they are generally categorized as slowing.

The clock shows where individual markets sit within the real estate cycle. Markets on the left side of the clock typically are landlord-favorable, while those on the right are tenant-favorable. In the US and Canada, only the relatively small market encompassing parts of Long Island and Westchester County, NY and southwestern Connecticut falls on the landlord-favorable side of the clock. It is classified as rising, while all other markets are listed as either stagnant or falling.

According to Jones Lang, most markets on the clock’s right side appear likely to remain there for the next 12 months. Significantly, most top US markets are categorized as falling. Los Angeles, Houston, Dallas/Ft. Worth, Chicago, Atlanta, California’s Inland Empire and both Northern and Central New Jersey are all in this category.

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