The report, entitled “2024-2025 Industrial Tenant Demand Study,” explained that requirements have fallen 1.8% annually, to 792,000 square-feet (SF), with companies adopting a more cautious approach and focusing things like lean cost savings and carefully evaluating their options. And it added that this shift is paced by multiple things like inventory carrying costs, interest rates, and supply chain considerations.  

Source: https://www.logisticsmgmt.com/article/new_jll_report_addresses_a_period_of_adjustment_for_industrial_real_estate_market