U.S. industrial rents grew fastest in Miami – up 11% year-over-year – with more than 15 million square feet of new, high-quality industrial space coming to market since 2022. Other Southern markets also saw strong growth.
According to Newmark’s Road Work Ahead report, though overall industrial market growth correlates with infrastructure investment, and will continue to do so on a national level, not all markets will see similar levels of growth in the coming years.
The national industrial vacancy rate has climbed by 30 basis points during the third quarter to reach 6.4%, according to Cushman & Wakefield’s latest industrial segment research.