The U.S. industrial vacancy rate declined by 20 basis points (bps) to 6.6%, the 22nd straight quarter of rising industrial demand. Industrial vacancy rates have steadily declined since peaking at 11.2% in Q1 2010.
U.S. industrial demand has remained positive with net absorption totaling 59.1 million square feet this quarter.
Healthy occupier demand and the need for modern industrial space has continued to spur industrial construction. More than 41 million square feet of space was added to the industrial base, much of which was in built-tosuit projects.
Source : Colliers International