Research

"Edmonton continues to post positive absorption, with Q4 seeing a mix driven from leases and buildto-suit deliveries. "

"Vacancy increased by 10 basis points (bps) in the fourth quarter to 9.1%. The Orange County industrial market recorded positive absorption, totaling 405,644 square feet (sf). "

"Nashville’s vacancy rate held steady throughout 2025, rising just 20 basis points quarter over quarter to 6.4% in Q4, as supply and demand remained closely aligned throughout the year. "

"Average asking rents reached $10.17 per square foot in Q4 2025, up 0.9% year over year. Rent growth persisted despite rising vacancy, supported by newer inventory and higher replacement costs."

"The market’s vacancy rate increased 90 basis points year over year from 7.7% in Q4 2024 to 8.6% in Q4 2025. Deliveries outpaced net absorption year to date, keeping vacancy rates elevated."

"Vacancy averaged 9.1% in Q4 2025, up year over year but down slightly from Q3. Net absorption reached 0.6 million square feet (msf) year to date, led by large leases in Northwest and Mountain View Corridor West submarkets."

"Tampa Bay’s industrial vacancy rose 150 basis points (bps) over the past year to 8.8%, up from 7.3%, primarily due to sluggish demand in the region as a whole."

"Net absorption softened in the second half of the year, reaching about 0.5 million square feet (msf) across Q3 and Q4 combined, compared with 1.7 msf in the first half of the year."

"The industrial market has stopped weakening and is beginning a slow, uneven transition toward recovery."

"While Canada’s manufacturing sector has been in decline for many years, the combination of new policy levers, investment in infrastructure and new manufacturing announcements provides some optimism for the sector’s future."