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Industrial property clock

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 Q1 2018
Average Rent (USD/sqf/NNN)
Average Rental Change (% Q-o-Q)
Vacancy Rate (%)

Reading the clock

The JLL industrial property clock illustrates where each market sits within its real estate cycle. Markets generally move clockwise around the dial, with those markets on the left side generally facing more landlord-favorable environments, whereas those on the right experience generally tenant-favorable conditions. All major industrial markets have witnessed stable growth for the past five-seven years and are positioned in the rising or peaking phase of the JLL industrial property clock. For the first quarter of 2018, the U.S. aggregate moved clockwise to the 10:30 mark, in the peaking phase quadrant.

Overall industrial leasing activity was healthy this quarter, and 88 percent of the markets tracked expected 2018 to continue to be favorable to the landlords across the country. Going forward, expect markets to continue their progressive clockwise moves or maintain their spot on the clock, while the overall U.S. position gradually climbs.