As consumers continue to buy record amounts of goods online, industrial users are addressing the demand for fast delivery times by evolving their supply chains, primarily through additional warehouse and distribution space. Users with the most activity include e-commerce firms, third-party logistics providers, and home improvement retailers.
National industrial real estate trends
- Industrial leasing activity continues to reach historic highs as tenants from a broad range of business types seek space to fulfill increased demand.
- Sales of industrial buildings reached over $20 billion in Q1 2021, following the all-time quarterly record of $44 billion in Q4 2020.
- With 350 million SF of construction underway, strong demand is expected to absorb much of the new supply. Net absorption was 83 million SF in Q1 2021.
- Rental rates are growing at 4.1% year over year in response to strong demand for industrial space.
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