Construction Accelerates at Record-Breaking Levels

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:

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