Industrial leasing volume rebounds in Q1

Volume increased by 2.5% YoY to 3,229 tenancies.

Leasing volumes of industrial spaces have finally picked up after three consecutive quarters of decline.

Data from Savills showed that leasing volume increased by 2.5% YoY to 3,229 tenancies.

"In the quarter, more tenancies were signed across all property types except for the single-user factory segment, " Savills commented.

By segment, leasing volumes rose by 1.8% YoY for multiple-user factory spaces and 12.1% YoY for warehouses.

Single-user factory spaces, on the other hand, fell by a larger 17.5% YoY compared to the 15.5% YoY decline it recorded in Q422.

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