News / Cooling demand increases warehousing vacancies, with rents inching down

ID 96678949 © Pressmaster | Dreamstime.com

Cooling demand has ended the long run of increasing warehousing costs and nudged the average US vacancy rate above the 5% mark.

And this trend is expected to continue – but without triggering a significant drop in rents.

Warehousing real estate investment trust Prologis has shifted into reverse; citing lower occupancy, it lowered the mid-point for average occupancy of its facilities this year by 75 basis points, to a range of 95.75% to 96.75%.

Its large customers, like UPS and FedEx, have seen ...