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 and labor at both national and market-level geographies.
A few noteworthy facts from our research:
- After three unprecedented years, the U.S. industrial market is normalizing with key metrics trending back to 2019 levels.
- Vacancy now stands at 4.8%, up 40 basis points from last quarter and 100 basis points from last year’s all-time low.
- Manufacturing is a bright spot, with construction spending by manufacturing up 76% year over year, driven by the semiconductor, electric vehicle and clean energy sectors.