A Year in Review and Looking Ahead to 2024

In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor discuss significant factors that influenced the industrial market in 2023 and make predictions for 2024. They noticed an increasing vacancy rate in the 100 to 200 thousand square feet range, with Kent Valley and North End being the only two submarkets with positive absorption. A notable point was the decline in the number of industrial land sales in 2023. They predict a slower start for investment volume in 2024 but expect a substantial increase in the second half of the year. 00:02 Introduction and Welcome 00:37 2023 in Review: Predictions and Reflections 01:18 Market Analysis: Inventory and Vacancy 03:25 Market Analysis: Absorption and Submarkets 05:17 Market Analysis: South Seattle 10:20 Market Analysis: Kent Valley and Auburn 12:42 Market Analysis: Land Sales and Investment Volume 15:17 Predictions for 2024