We are pleased to release the latest State of the U.S. Industrial Market. This quarterly report provides key metrics on supply, demand and pricing of industrial real estate along with analysis of related economic drivers including ports, labor and reshoring at both national and market-level geographies.
A few noteworthy facts from our research:
- While rents remain up 64% compared to pre-pandemic, rent growth slowed to its lowest level in more than two years as West Coast markets begin to see rates decline.
- Vacancy increased by 50 and 150 basis points over the past quarter and year, respectively, with the steepest increases observed in buildings 500,000 square feet and larger.
- Despite softening fundamentals over the past year, industrial property is generally not distressed with extremely low loan delinquency rates and relatively stable values.