Demand for logistics and warehouse space healthy in Q1 23

Rents grew 2.6% quarter-on-quarter in the first quarter of 2023.

The demand for logistics and warehouse space kept getting healthy in the first quarter (Q1) of 2023, with end users and third-party logistics players seeking to expand their spaces, JLL said in its latest report.

“This included unfulfilled demand from earlier quarters,” said JLL.

Rents for this segment went up 2.6% QoQ in Q1 2023. JLL explained that the firm demand and tight supply of quality space may support rent growth in 2023 “albeit at a slower pace as economic uncertainties could result in some occupiers becoming more cost sensitive.”

But the property expert warned that capital value growth may also slow down due to rising interest rates.

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