Summary

Logistics vacancies in Europe have climbed to their highest level in a decade. The second-quarter vacancy rate of 5.6 percent reported by CBRE was up from 4.5 percent a year earlier and continued to exceed the 5 percent threshold for the second quarter in a row. Following a decade of robust expansion, logistics real estate markets across Europe are experiencing a temporary deceleration in tenant demand, largely influenced by macroeconomic headwinds and policy uncertainty.