Market Trends
- Vacancy ticked up 30 basis points (bps), quarter over quarter, to 2.9%. However, vacancy is still at a historic low.
- On the heels of Intel’s announcement that it will build a new manufacturing facility in the Columbus market, Duke Realty announced it will build a 574,670-square-foot distribution center for Cardinal Health.
- A slowdown in consumer spending will have e-retailers reconsidering expansion plans. However, inflation’s effect on material costs will put upward pressure on new construction rents.