We are pleased to release the latest State of the U.S. Industrial Market. This quarterly report provides key metrics on supply, demand and pricing of industrial real estate along with analysis of related economic drivers including ports, labor and reshoring at both national and market-level geographies.
A few noteworthy facts from our research:
- Amid a record 638 million square feet of new supply in 2023, speculative developments, primarily available, lead the under-construction inventory, though market variation exists.
- In 2023, Los Angeles fell behind other major markets in net absorption, highlighting its strong connection to port activities.
- Third-party logistics companies significantly increased their share of leasing activity in 2023, in contrast to a notable scale-back by retailers and consumer goods tenants.