CommercialEdge just released its July national industrial report, analyzing the U.S. industrial market’s performance through June 2022.
Development of industrial spaces continues at a rapid pace, with 667.5 million square feet under construction and another 684.6 million square feet in the planning stages. But with the increasing pressure of land scarcity for new developments, niche industrial sectors are appearing, such as multistory facilities, conversions from office and retail, and outdoor storage lots.
Other key takeaways include:
The average national rent increased 4.9% year-over-year to reach $6.57
Unrelenting demand squeezed the U.S. industrial vacancy rate to just 4.6%
159.6 million square feet of new space were delivered in the first six months
Q2 sale prices reached $138 per square foot, up 31.3% year-over-year
For more insights and market-specific data, check out our full report here: https://www.commercialedge.com/blog/national-industrial-report/