The warehouse sector — more specifically, weakening demand from companies for warehouse space — is yet another sign the economy is kind of stuck in “meh” mode.
According to recent data from NAIOP, the Commercial Real Estate Developers Association, leasing demand for industrial space shrank by 11.3 million square feet in the second quarter of 2025. (Industrial space is basically synonymous with warehouses these days.)
That’s the first quarterly decline in 15 years. And yep, a lot of it has to do with that “T” word…