In the first half of 2022, heightened e-commerce demand and limited warehouse supply were the prevailing trends.
Then, in October, Prologis further validated that narrative, reporting that occupancy tightened, more leases commenced, and utilization of space was at the 95th percentile historically during the third quarter. Currently, nationwide industrial vacancy rates are sitting at all-time lows.
All of that activity means tenants have been forced to pay more for space. As of October, Prologis...