Record-Setting Port Activity Continues to Boost Industrial Markets
Port markets continue to top asking rents, sale prices and tight vacancy rates, with select Southeastern hubs following.
Port Markets Record Strongest Rent Growth, Large Projects Drive Phoenix Pipeline
Port markets in Southern California lead rent growth, sales volume tops $1B in two new markets and Phoenix pipeline shows no signs of slowing.
More Than 1.5B SF New Industrial Space Estimated for Completion Through 2026
As global trade routes reopen, West Coast port markets are seeing significant increases in activity. Naturally, this translates to high occupancy and vacancy rates of below 2%, as well as lease spreads of nearly $2 per square foot.
E-Commerce Fuels Demand in Coastal Markets, Developers Are Pushing to Keep Up
Development continues at accelerated pace, working to keep up with growing demand across the country, with some markets tightening to vacancy rates of 3% and even 2%.
Driving Force Behind U.S. Industrial Market: E-Commerce
U.S. industrial lease rates continued to climb in April while vacancy held steady at 6.1%. Sales activity accelerated, closing out April with $5.1 billion in industrial transactions nationwide.
Growth of E-Commerce & Manufacturing Continue to Boost U.S. Industrial Market
As U.S. industrial lease rates climbed 4.4% YoY, vacancy held steady in March 2021, and sales activity exceeded $8 billion in first quarter transactions.
CommercialEdge National Industrial Report March 2021
Industrial space sale prices grew 10% since Q4 2020. In the first two months of 2021, total sales nationwide amounted to $4.7 billion. Over the last 12 months, industrial rents grew 5.1% & by over 7% in port markets. Thus far in 2021, 41.7 million sq. ft. of new stock was delivered.
CommercialEdge National Industrial Report February 2021
High demand for U.S. industrial space meant that those who leased in the past 12 months paid an avg. of $7.50 per sq. ft. – a 5.1% increase Y-o-Y. Record trade activity in the Ports of Los Angeles and Long Beach fueled demand – imports grew 4.8% year-over-year in December 2020. By February 2021, 27.8 million sq. ft. of new stock was delivered.
CommercialEdge National Industrial Report January 2021
E-commerce fueled demand for industrial space causing rents to grow 4.8% Y-o-Y in December 2020 and sale prices to grow 7.8% over the course of the year. More new industrial space was constructed – 228.4 million square feet – than at any other time this century.
- « Previous
Stay current with the latest market reports and CRE news