Throughout 2022, the extreme scarcity of options for industrial and logistics space has resulted in steep rental increases. Nationally, rents rose 23 per cent.
The record rate of rental growth in the industrial sector is finally easing after posting a 23 per cent rise nationally over 2022 as demand for logistics space outpaced new supply.
“Throughout 2022, the extreme scarcity of space options has resulted in steep rental increases and declining incentives but also examples of tenants settling for leases for buildings that are much smaller or much larger than required or in non-preferred locations, often on short lease terms.” At Sydney warehouses owned by ESR-Logos, recent lease deals have been struck with annual contracted rent uplift of a minimum of CPI or 3.75 to 4 per cent, compared to the traditional fixed rate of 2 to 3 per cent, according to Morgan Stanley analysts.
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