Vacant industrial buildings remained exceptionally hard to find in 2024, with demand outpacing supply. High construction, financing, and land costs drove up property values, making vacant buildings more valuable than leased ones.
Traditional industrial spaces continued to lease quickly, but rising vacancy rates were driven by an oversupply of smaller warehouse condos. These units, ranging from 1,000 to 3,000 square feet, struggled to find tenants, creating challenges for the broader market.
Navigating this market requires adaptability. Connect with SterlingCRE Advisors to explore strategies for success and make informed decisions in the year ahead.
