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 space was 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/