U.S. industrial and logistics leasing activity will decline by 10% to 15% in 2023, though for the 13th consecutive year more industrial square footage will be absorbed than will be vacated, real estate services firm CBRE Group Inc. said Thursday.

Industrial vacancy rates, already at historic lows, will increase just slightly next year, CBRE said.

Nationwide vacancy rates currently sit between 3% and 4% and in several top-tier markets are well below those levels. CBRE (NYSE: CBRE) classifies industrial real estate as ...

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