Industrial's Hidden Distress

Podcast: Commercial Real Estate Investment Conference Podcast (CREIC) · Commercial Real Estate Investment Conference

Opublikowano: 2026-10-04

Cold storage vacancy just hit 7.7% in H1 2026, the first negative net absorption in a first-half period since 2007. This headline masks a bifurcated market: modern facilities built since 2020 are absorbing demand at 10.9% vacancy, while legacy 1980s and 1990s-era properties are bleeding, holding 68% of all vacant cubic feet nationally. Occupiers are fleeing older stock for modern buildings with higher clear height, better power capability, and automation-ready infrastructure. Cold storage build costs run 130-350 per square foot versus 85-150 for dry warehouse, and weighted average taking rents have grown over 100% since 2020 to $27.40/SF. Last-mile fulfillment is consolidating. E-commerce growth has m...