A $100 billion bet on China’s economy sours as warehouses and industrial buildings empty

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A $100 billion bet on China’s economy sours as warehouses and industrial buildings empty - Business Mirror

Quick Summary:

The warehouse vacancy rate in east China—where many logistics properties are clustered—climbed to 19.2 percent in the first quarter, according to data from Cushman & Wakefield.

Companies now have the upper hand when negotiating lease renewals for warehouses and other properties.“Competition for tenants is pretty intense at the moment,” said Luke Li, managing director at ESR Group Ltd., during an online conference about the logistics sector in mid-June.

Global institutions have collectively invested more than $100 billion in warehouses, industrial buildings, office towers and other Chinese commercial real estate over the past decade, according to data from MSCI Real Capital Analytics.