In Q3 2025, demand for U.S. industrial real estate rose significantly, with net absorption reaching 60 million square feet, marking the highest since early 2023. Phoenix and Indianapolis led this growth, driven by increased activity from large retailers and new construction. Despite this surge, year-to-date net absorption remains lower than in 2024. Vacancy rates increased to 7.4%, but experts predict stabilization due to limited future supply. Major companies, particularly in e-commerce, are making long-term investments in their logistics, while overall construction of industrial space has declined to its lowest since 2018.

Source: https://www.supplychaindive.com/news/warehouse-demand-2025-tariff-impact-colliers/804591/