As consumer sentiment begins to shift and economic uncertainty looms, the U.S. industrial market continues to be a bright spot in the commercial real estate landscape. Key fundamentals, including occupancy gains and construction activity, reached record levels, and many markets across the country posted historically low vacancy rates. Moreover, momentum has yet to wane in the industrial sector since the beginning of the global pandemic early in 2020.
As a result, the Top 25 markets covered in this report benefited the most as occupiers continue to retool their supply chains and distribution networks. Overall, these leading markets maintained low vacancy, unprecedented occupancy gains and developers remained active in each of these markets as demand for industrial space continued to outstrip supply.
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