Waypoint: Global Industrial Dynamics 2025

Against this backdrop, potential stakeholder strategies include: OCCUPIERS: • Leverage uncertainty to diversify and strengthen supply chains, including reassessing location and real estate needs. • Act on “mission critical” sites now, as tenant-friendly conditions are expected to shift soon. Secure current assets or plan for new facilities, particularly in markets where vacancy rates may tighten. • Prepare for rising real estate costs in the near term, including higher rents and increased fit out and construction expenses due to fluctuating material costs. • Understand the importance of your assets in tenants’ supply chains to align with their needs and ensure retention. • Existing assets may offer better risk-return profiles in the near term, as construction material costs become more variable. In the short term, refurbishment projects may be more viable than new builds. • As markets shift toward neutral or landlord-favourable conditions, confidence in delivering new supply may grow, provided costs remain manageable. INVESTORS AND LANDLORDS:

Waypoint: Global Industrial Dynamics 5