Research

United States Industrial Outlook Q4 2018

The U.S. industrial real estate market vacancy remains at secular lows

The U.S. Industrial market closed the final quarter of 2018 on a stable note. Nationwide, vacancy continued to hover close to 5.0 percent and for the U.S. closed the quarter at 4.9 percent. Since 2009, it has been cut in half – continuing to be near record low numbers. Both 2018 total net absorption and total new construction crossed the 200 million-square-foot mark, respectively, in line with the previous year.

Given the industrial market remains at structural lows, rents continued an upward trajectory, albeit at a slower annual growth rate of 4.7 percent. Additionally, the U.S. construction pipeline remains robust with new buildings continuing to break ground. The availability of industrial space fell by 10 basis points, quarter-over-quarter, to 7.2 percent.

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