Q2 2022 U.S. Industrial Real Estate Market Report
The industrial real estate market continued to perform impressively in Q2 2022, registering record-low vacancy levels and record-high rent growth. The $5 trillion in stimulus funding from the U.S. government has increased household consumer spending, which is fueling the industrial market’s historic growth.
National industrial real estate trends
The shortage of construction labor and materials coupled with supply chain disruptions will lead to a choppy but extended period of record-level completions for new industrial facilities during 2022-2023
- Amazon, the industrial market’s largest tenant, is slowing the expansion of its distribution network
- Leasing activity remained at a record-high 60% above pre-pandemic levels
- Rent growth is 11.9% year-over-year
- Total industrial SF leased in Q2 2022 is set to tally about 320 million, 50% higher than typical quarterly leasing before the pandemic
- 844 million SF of industrial space is under construction, up 70% from pre-pandemic numbers
- Trailing 12-month sales volume totals $128 billion, which is almost double typical pre-pandemic sales volumes
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