The Q2 report on the U.S. industrial real estate market shows stable net absorption, driven by the resilience of the logistics sector which boosts demand for new warehouses. Despite challenges, companies are optimizing supply chain management through modernized facilities. Looking ahead, the stable market outlook presents opportunities for businesses.
In the second quarter of 2023, the U.S. industrial real estate market demonstrated stable resilience with a net absorption of approximately 29.9 million square feet. The demand growth was driven by new logistics products, despite rising vacancy rates and consolidation pressures in some regions. By 2025, new supply is expected to exceed absorption, while absorption is projected to surpass supply by 2027.
The Cushman & Wakefield report indicates that in the second quarter of 2023, the U.S. industrial real estate market remained stable, driven by logistics resilience. There was strong demand for new warehousing facilities; however, the western regions faced negative absorption pressures. It is expected that in the coming years, new supply will continue to exceed absorption until 2027, when the market is forecasted to reverse.
The highway economy in the Yangtze River Delta is undergoing a transformation and upgrade. Driven by infrastructure and urban collaboration, it fosters the development of industrial clusters and improves residents' lives, becoming a solid foundation for regional economic growth and a new engine for future development.
Pohang Port, located in Gyeongsangbuk-do, South Korea, is a significant industrial port with an annual throughput exceeding 30 million tons, primarily serving the POSCO steel complex. The port is well-equipped with various functional zones that facilitate the efficient import and export of raw materials and finished products, providing robust support for South Korea's shipping logistics and international trade development.
The cold chain logistics project between JD Industrial Development and Shuhai Supply Chain officially commenced operations in Daxing, Beijing, marking a new trend in customized cold storage services. Through innovative multi-temperature zones, it meets Shuhai's needs in a rapidly changing market, contributing to the sustainable development of the cold chain industry.
A forklift is a small industrial vehicle designed for the efficient movement and stacking of heavy goods in storage, enhancing logistics efficiency and reducing labor costs. Its diverse applications and intelligent development are shaping the future of the logistics industry.
Zhengzhou Airport plans to add a dedicated freight runway and actively promote testing of short-distance drone logistics to strengthen its position as an international logistics center and drive high-quality local economic development. Despite some achievements, the Zhengzhou Airport Economic Zone faces challenges such as a weak industrial structure and insufficient innovation capacity, necessitating the establishment of a modern industrial system. In the future, the integration of air transport with road and high-speed rail will optimize resource allocation and enhance logistics efficiency.
The Taldykorgan Port is a key transportation hub in southeastern Kazakhstan, driven by its robust industrial and agricultural base, promoting regional economic development. As the capital of Almaty Region, it connects shipping routes to the Middle East and lays the foundation for future economic growth.
The New Western Land-Sea Corridor faces multiple challenges in enhancing its iron-sea intermodal transportation capabilities, including inadequate infrastructure, weak industrial coordination, and a lack of regional cooperation. By strengthening infrastructure development, integrating resources, and optimizing policy guidance, it is possible to improve the overall transportation efficiency of this corridor, thereby supporting the economic development of the western region.
