An Insight into the Industrial Market in 2023

In this Industrial Advisors podcast, hosts Bill Condon and Matt McGregor engage in an insightful discussion with their guest Craig Hurvitz, the National Director of Industrial Research at Collier's. The discourse revolves around the state of the industrial market in 2023, which despite fears of recession and a crumbling capital market has remained strong. There is a decrease in overall demand from the soaring figures of 2021 and 2022, but it's in line with the performances of 2017-2019. A disproportionate amount of supply in the market is creating an imbalance, contributing to increases in vacancy rates. Craig also highlights new emerging trends, predicting a 'reset' of the industrial market by the end of 2024. Dallas and Phoenix, among others, show promising signs of growth, and subleasing has seen a slight uptick but remains within historical averages. The conversation offers in-depth perspectives and predictions on the industrial market scenario. 00:35 Introduction and Guest Introduction 01:05 Discussion on Industrial Market Trends in 2023 02:12 Understanding Net Absorption and Supply-Demand Balance 05:00 Top Performing Industrial Markets in the U.S. 06:12 Emerging Trends in the Industrial Market 08:04 Discussion on Industrial Lease Rates and Escalations 09:16 Insights into the Industrial Capital Market 10:27 Predictions for the Industrial Market in 2024 11:27 Investment Opportunities in the Industrial Market 13:23 Trends in Subleasing in the Industrial Market 14:40 Conclusion and Guest Farewell