Warehouse Availability Surges to Highest Level Since the Pandemic

The fourth-quarter vacancy rate of 5.2% reported by Cushman & Wakefield was up from 3.1% in the same period a year earlier. More warehouse space is sitting empty across the U.S. than at any time since the pandemic. The average warehouse vacancy rate across the U.S. jumped to 5.2% in the fourth quarter of 2023 from 4.6% the previous quarter and 3.1% a year earlier, according to a new report