TAKEAWAYS

• Vacancy grew slightly from last quarter to end the year at the same level as Q4 2021 and, combined with climbing asking rental rates, signals a continued tight market for occupiers.
• A substantial uptick in construction has occurred throughout the year attempting to meet the rising demand for new industrial space, which has resulted in increased deliveries as well.
• Despite economic uncertainty and potential future interest rate hikes, core market fundamentals remain healthy illustrated by continued positive absorption and stable low vacancy rates.

Read the full report