Plus: The US Chamber of Commerce challenges the FTC ruling on banning non-competes, Covenant Logistics' profits plummet, and Tesla postpones Semi production until late 2025.
In 2023, the logistics property sector enjoyed a robust 6% growth in global rents. This uptick, reported by Prologis, indicates a strong sector despite a rough economic climate.
Latin America: Mexico leads with a 19% rent increase due to "ultra-low vacancy, rapidly rising replacement costs, and nearshoring."
Demand vs. Supply: With vacancy rates diving from 7% to near 1% in key Mexican markets since 2021, rent hikes have been both a response to and a catalyst for change in the industry.
U.S. and Canada: Rents grew by 6% in 2023 after rising a monumental 30% in 2022. Top regions include the Southeast and Southwest, favoring markets like Las Vegas and Central Florida.
Hi! I'm Adriana and I've been working for FreightCaviar as Head Writer for a little over a year now. Some of my favorite topics to cover are FreightTech, Green Freight, and nearshoring/reshoring.
The US labor market is showing signs of stabilization as the rate of voluntary job quitting approaches pre-pandemic levels and employers implement better retention strategies.
