Lisa Mailhot | January 31, 2024
Buyers
The past three years have been a whirlwind for commercial real estate, with the pandemic causing dramatic shifts in demand across sectors. Once hot on the heels of e-commerce growth, the industrial market is now entering a new phase marked by softening lease rates and shifting power dynamics. As a tenant in this evolving landscape, understanding the trends and adjusting your approach is crucial to securing the best deal.
Remember the frantic scramble for industrial space in 2021? Fueled by booming online orders, logistics providers eagerly snapped up any available warehouse. This resulted in tight supply and soaring lease rates. Fast forward to 2024, and the tide has turned. The aggressive pursuit of space has subsided, investor activity has cooled, and signs of lease rate softening are evident.
As a tenant, you now have leverage. But navigating this new landscape requires strategic thinking. Here are some essential tips:
The industrial market is undergoing a correction, and it's the perfect time for tenants to seize the opportunity. By understanding the new dynamics, utilizing the tips above, and potentially seeking professional guidance, you can secure the best space for your business at the best price.
Ready to navigate the new industrial landscape and negotiate the best deal for your business? Let's connect. Navigating the nuances of the market with a well-informed partner can be the key to successfully obtaining a space that aligns with your needs.
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