CommercialEdge just released its monthly national industrial report, looking at the US industrial market’s performance through February 2022.
As demand for industrial space remains robust, construction is accelerating at record-breaking levels. Despite the burgeoning U.S. development pipeline, rents and listing rates have been on a steady upward trajectory, while vacancy rates have contracted, and the average sale price has increased consistently for six straight quarters through February.
Key takeaways from our report:
- National in-place rents for industrial space averaged $6.45 per square foot in February, marking a 4.4% year-over-year increase.
- The national vacancy rate averaged 5.2% across the top 30 industrial markets, down 30 basis points compared to January.
- Nationwide, transaction volume exceeded the $9 billion mark in the first two months of the year.
- A total of 593 million square feet of industrial spacewas under construction in late February, accounting for 3.5% of total stock.
For more insights and market-specific data, here’s the link to our full report: https://www.commercialedge.com/blog/national-industrial-report/