Figures
Polk County Industrial Figures - Q4 2023
January 5, 2024 5 Minute Read
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- 2023 deliveries significantly outpaced absorption, pushing vacancy to 7.3%. This figure is up 50 bps on the quarter and 320 bps year over year.
- Given some lingering large blocks of space, the construction pipeline has continued to narrow. Just 258,000 square feet delivered in the fourth quarter and only 156,000 square feet broke ground.
- Recently delivered product remains the target of tenant interest which has helped grow rents by nearly 17% over the course of the year.