I&L Market Fundamentals Remain Strong in Q4
- The U.S. industrial & logistics (I&L) market finished the year with continued positive net absorption, record-high asking rent and a significant amount of new development.
- The overall vacancy rate remained unchanged from Q3 at 4.4%, with a marginal 20-basis-point increase year-over-year.
- With a pickup in new construction, net absorption rose by 20.1% quarter-over-quarter to 55.7 million sq. ft. in Q4, the 39th consecutive quarter of positive absorption. For full-year 2019, however, absorption fell by 30.7% to 183.3 million sq. ft., largely due to tight conditions in several markets.