Vacancy rate of industrial big-box property in the U.S. 2013-2023
The vacancy rate of big-box distribution centers in the U.S. declined between 2013 and 2023, followed by a spike in 2023. In the second half of 2023, the share of vacant big-box warehouses increased to 10 percent - a result of a normalizing tenant demand and a spike in new completions. Big-box buildings refer to large industrial buildings used for distribution. The number of big-box building in the U.S. has grown year-on-year since 2013.
