April 26, 2017 Comments Off on U.S. Industrial Market Maintains Record-Breaking Pace Views: 541 Illinois, Midwest, National News

U.S. Industrial Market Maintains Record-Breaking Pace

U.S. industrial markets absorbed 53.8 million square feet of space in Q1 2017, a level well above the quarterly absorption average of 49.3 million square feet experienced during the current economic expansion. The latest industrial market report from Cushman & Wakefield found that absorption is also significantly higher than the average quarterly absorption of 40.6 million square feet registered during the last two economic growth cycles.

Cushman & Wakefield’s John Morris says the outlook for the industrial sector remains promising, and he expects 2017 to be another year of solid growth.

Key report findings included:

  • National industrial vacancy rate continued to decline in Q1 2017, falling 20 basis points from Q4 2016 and 80 bps from a year ago to 5.3%
  • Industrial vacancy is now a full 300 bps below the 10-year historical average of 8.3%
  • Vacancy rates declined or held firm during the quarter in 51 of the 79 markets tracked
  • Strong leasing fundamentals have driven vacancies for each industrial product lower than at any point in the last economic cycle

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