CommercialEdge just released its monthly national industrial report, looking at the US industrial market’s performance through December 2021.
The COVID-19 pandemic has driven demand for cold storage facilities in the past two years, due to recent lifestyle changes. Developers will need to overcome growing hurdles to add new supply, as labor and material shortages are impacting construction of all types.
Key takeaways from our report:
- National industrial rents averaged $6.40 per sq. ft. in December, a 5.1% increase Y-o-Y.
- The national industrial vacancy rate was 5.7% in December, unchanged from the previous month.
- CommercialEdge recorded over $71B in industrial sales completed through the end of 2021, up 47% compared to 2020’s figure of $48B.
- The average sale price of industrial buildings continued to climb upward in Q4 2021, reaching $129 per square foot.
- December closed with 332MSF of industrial supply delivered nationally in 2021.
For more insights and market-specific data, here’s the link to full report: https://www.commercialedge.com/blog/national-industrial-report/