US industrial and logistics asking rents rose 6.8% year-on-year in the first quarter, according to CBRE data, reversing a two-year deceleration as major retailers and third-party logistics providers resumed warehouse footprint expansion.
Vacancy rates, which had climbed above 7% in 2024 amid a wave of speculative development completions, have begun to compress again as new supply growth slows sharply.
Institutional demand
Large institutional owners including Prologis and GLP have both signalled renewed appetite for build-to-suit development, a shift from the more cautious posture the sector held through most of 2024 and 2025.