Skip to main content
TOOLS
Login to access your documents and resources.
Welcome to Nuveen
Select your preferred site so we can tailor your experience.
Select Region...
  • Americas
  • Asia Pacific
  • Europe, Middle East, Africa
location select
Select Location...
  • Canada
  • Latin America
  • United States
  • Australia
  • Hong Kong
  • Japan
  • Mainland China
  • Malaysia
  • New Zealand
  • Singapore
  • South Korea
  • Taiwan
  • Thailand
  • Other
  • Austria
  • Belgium
  • Denmark
  • Finland
  • France
  • Germany
  • Ireland
  • Italy
  • Luxembourg
  • Middle East
  • Netherlands
  • Norway
  • Spain
  • Sweden
  • Switzerland
  • United Kingdom
  • Other
location select
Institutional Investor
  • Institutional Investor
  • Individual Investor
  • Financial Professional
  • Global Cities REIT (GCREIT)
  • Green Capital
  • Private Capital Income Fund (PCAP)
location select
Real estate

Changing dynamics of industrial real estate

Ibrahiim Bayaan
Director of Research, Real Estate, Americas
Aerial view of an industrial park in a wooded area

Since the end of the Global Financial Crisis (GFC), the industrial sector has been the best-performing core property type, producing robust returns during an extended period of falling vacancy and strong rental growth.1

The COVID-19 pandemic accelerated these trends, leading to record-high demand and record-low vacancy rates starting in 2021 and early 2022.2

Overall rent growth seems to have exceeded historical norms in every period where vacancy falls below historical averages.”

Download the PDF

Related articles
Real estate PERE social impact investing roundtable
Pamela West discusses during a recent PERE roundtable the social value of real estate assets and the recent turmoil in capital markets affecting all corners or private equity real estate including impact strategies.
Real estate 2024 Real Estate Global Trends and Tactics| Nuveen Real Estate
Megatrends series Rising inequality
Rising global inequality is a key megatrend with major implications for the future of commercial real estate. Among these are the opportunities tied to affordable housing.
Contact us
Our offices
London skyline
London
201 Bishopsgate, London, United Kingdom

Endnotes

Sources

1 NCREIF 2023
2 Costar 2023
3 Moody’s Analytics 2023
4 Prologis Global Insights 2020
5 Green Street 2023

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her financial professionals. The views and opinions expressed are for informational and educational purposes only as of the date of production/writing and may change without notice at any time based on numerous factors, such as market or other conditions, legal and regulatory developments, additional risks and uncertainties and may not come to pass. This material may contain “forward-looking” information that is not purely historical in nature. Such information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition. Any changes to assumptions that may have been made in preparing this material could have a material impact on the information presented herein by way of example. Past performance is no guarantee of future results. Investing involves risk; principal loss is possible. All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such. For term definitions and index descriptions, please access the glossary on nuveen.com. Please note, it is not possible to invest directly in an index.

A word on risk

Real estate investments are subject to various risks associated with ownership of real estate-related assets, including fluctuations in property values, higher expenses or lower income than expected, potential environmental problems and liability, and risks related to leasing of properties. Nuveen Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). Nuveen Real Estate securities products distributed in North America are advised by UK regulated subsidiaries or Nuveen Alternatives Advisors LLC, a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, member FINRA.

Back to Top