National industrial in-place rents averaged $6.95 per square foot, up 5.8% year-over-year as demand remains strong,
Industrial tenants continue to pay increasing lease rates, with new contracts $1.38/sq .ft higher than in-place rents.
After 7 consecutive quarters of growth, in Q3 2022 the national average sale price came in $6 below Q2, resting at $131/sq. ft.
National lease spread hits historic high at $1.45 per square foot, with some markets, like Los Angeles, are seeing gaps as wide as $4.89.
Q2 closes as the 7th consecutive quarter of price increases for industrial assets, with the national average sale price reaching $138/sq. ft.
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.