United States industrial outlook - Q4 2019

Industrial vacancy keeping steady, rising rents point to a good start for markets in 2020

February 25, 2020

The fourth quarter saw the U.S. industrial market closing out 2019 on a positive note. Industrial markets finished the year strong with declines in vacancy and increases in asking rent. Fundamentals continue to perform well - in line with historical trends and show no tangible signs of a slowdown in tenant demand.

Click through the tabs below to compare market performance across key categories.

Inventory (s.f.)

2019 deliveries reached 253.8 million square feet, moving the total industrial inventory nearly 13.4 billion square feet.

Market Inventory (s.f.)
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Rental rates ($)

The U.S. industrial rents crossed the $6.00-mark, up to $6.12 per square foot.

Market Rental rates ($)
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YTD net absorption (s.f.)

2019 total net absorption at 225.9 million square feet.

Market YTD net absorption (s.f.)
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Total vacancy (%)

Vacancy is near historical lows at 5.1 percent, despite continued robust construction activity.

Market Total vacancy (%)
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Under construction (s.f.)

Industrial product under construction remains very active, with Tier 1 markets leading the pack.

Market Under construction (s.f.)
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United States industrial property clock

JLL Industrial Outlook clock (image)

Source: JLL

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