In March 2024, the national industrial vacancy rate rose to 5.2%, a 20-basis point increase from the previous month, driven by an unprecedented addition of over 1 billion square feet to the market in the last two years, our latest U.S. industrial market report shows. The downturn in e-commerce, coupled with economic uncertainties from rising inflation and interest rates, has made tenants cautious, slowing leasing activity significantly. During this time, businesses focus more on cost control in response to changing economic conditions. 

For in-depth market insights, including vacancies and asking rates across the top 30 industrial markets, read our report here: https://www.commercialedge.com/blog/national-industrial-report/