Report | North America Industrial Outlook - Q2 2014
Vacancy is now below a prior cyclical low, and will trend toward 7.0 percent by year-end. Rents are increasing as new development continues to play catch-up after 2010-13 marked a 50-year delivery low.
Rent growth is pronounced in those regions with vacancy rates well below the national average, with Southern California, the Northwest and Southwest leading in year-over-year asking warehouse rent increases. Gains are expected as market fundamentals tighten in the Midwest, Northeast, Mid-Atlantic and Southeast.
Vacancies in Mexico's North Region slightly decreased, following positive net absorption in Ciudad Juárez, Monterrey and Saltillo Ramos Arizpe.
For Canada, the leasing market weakened in Montreal; stable rent growth, low availability and dwindling tenant leverage are on the horizon for Toronto; and signs of a balanced market are present in Vancouver.
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