{"id":1702,"date":"2023-04-20T13:56:08","date_gmt":"2023-04-20T20:56:08","guid":{"rendered":"https:\/\/www.lee-associates.com\/centralcoast\/?p=1702"},"modified":"2024-11-01T12:22:28","modified_gmt":"2024-11-01T19:22:28","slug":"lee-associates-q1-2023-economic-reports","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/centralca\/2023\/04\/20\/lee-associates-q1-2023-economic-reports\/","title":{"rendered":"Lee & Associates Q1 2023 Industrial, Office, Retail and Multifamily Market Reports"},"content":{"rendered":"

There was a sharp first-quarter decline in U.S. tenant demand for industrial space as wholesalers and retailers reconsider their inventory levels out of caution over the economic outlook. Net absorption in the first quarter totaled 39.4 million SF, a 57% drop from the record set a year ago. Demand for Canadian industrial space in Q1, however, gained nearly 21% year over year. The overall U.S. vacancy rate settled at 4.4%, an increase of 40 basis points from the close of 2022, comfortably below the 7.3% market average over the last two decades. Vacant space at the end of March totaled 805.6 million SF, up 81.4 million SF from the previous quarter….Read Full Report<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There was a sharp first-quarter decline in U.S. tenant demand for industrial space as wholesalers and retailers reconsider their inventory levels out of caution over the economic outlook. Net absorption in the first quarter totaled 39.4 million SF, a 57% drop from the record set a year ago. Demand for Canadian industrial space in Q1, however, gained nearly 21% year over year. The overall U.S. vacancy rate settled at 4.4%, an increase of 40 basis…<\/p>\n","protected":false},"author":217,"featured_media":1853,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,22],"tags":[],"class_list":["post-1702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-reports","category-news"],"yoast_head":"\nLee & Associates Q1 2023 Industrial, Office, Retail and Multifamily Market Reports - Lee & Associates | Central California<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/centralca\/2023\/04\/20\/lee-associates-q1-2023-economic-reports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lee & Associates Q1 2023 Industrial, Office, Retail and Multifamily Market Reports\" \/>\n<meta property=\"og:description\" content=\"There was a sharp first-quarter decline in U.S. tenant demand for industrial space as wholesalers and retailers reconsider their inventory levels out of caution over the economic outlook. Net absorption in the first quarter totaled 39.4 million SF, a 57% drop from the record set a year ago. Demand for Canadian industrial space in Q1, however, gained nearly 21% year over year. 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