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US logistics tenants vacate more space than they take for first time in 15 years

Moderating retailer inventory growth reflected in quarterly leasing
Despite moderating demand, large, speculative logistics properties continue to come on line in California's Inland Empire. (CoStar)
Despite moderating demand, large, speculative logistics properties continue to come on line in California's Inland Empire. (CoStar)
CoStar Analytics
July 8, 2025 | 6:30 P.M.

For the first time in 15 years, U.S. logistics tenants have vacated more space than they moved into during a given quarter, a phenomenon that was driven by businesses slowing expansion plans over the past year in the face of deteriorating consumer confidence and uncertainty over global trade.

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