Research

JLL Industrial Market Report – Q3 2023

JLL Quarterly Industrial Market Report for Q3 2023

December 04, 2023
Contributors:
  • Niall Gargan

During the most recent quarter, the market witnessed leasing volumes of 592,000 sq. ft, spread across 25 deals. This is consistent with the previous quarter in terms of both volumes and the number of deals, with a slight decrease of 0.8% in volumes and 25 deals compared to 24 in Q2 2023. While this represents a decline of 28.1% in leasing volumes compared to the five-year quarterly average, it is worth noting that Q3 2023 was 15.8% above the ten-year annual average deal size, highlighting a trend of fewer but larger deals being signed.

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