The national vacancy rate contracted to 4.7%, as sustained demand for industrial space continues to tighten vacancies across the U.S.
The national industrial sales price reached $135 PSF for a $19 billion year-to-date total, despite slower sales activity than in 2021.
Southern California continues to heat up under e-commerce pressure, major investor interest, land constraints and ever-tightening vacancy rates.
Despite the burgeoning U.S. development pipeline, rents and listing rates remain on a steady upward trajectory.
Demand for southeastern port markets is on the rise as industrial rents continue a five-quarter upward trend.
Refrigerated storage space sees growing demand while the average rent for U.S. industrial space climbs to $6.40 per square foot.
Despite the slowdown, e-commerce is anticipated to remain a leading factor in the industrial market’s ongoing expansion.
Port markets still lead the nation in rent expansion, with vacancy rates in certain areas tightening to as low as 1%.
September 2021 lease rate and vacancy stats for top U.S. industrial markets & insights on industry and economic recovery fundamentals.
Port markets continue to top asking rents, sale prices and tight vacancy rates, with select Southeastern hubs following.