By Ashley Fahey | The Business Journals
The U.S. industrial market appears to have normalized after an unsustainable clip of growth during the pandemic and may find its post-pandemic bottom this year, as supply continues to outpace demand in many markets.
Amid that softening, Amazon.com Inc. (Nasdaq: AMZN), an informal “first mover” in the industry, is showing signs of restarting expansion of its industrial real estate holdings.
Industrywide, the first quarter of the year brought the sixth consecutive three-month period of declining net absorption, at 27.9 million square feet absorbed nationally, according to Jones Lang LaSalle Inc. (NYSE: JLL). The vacancy rate also continued to rise, to 6.1%, thanks to lower tenant demand and the continued trend of higher-than-average construction deliveries.
