National Industrial Real Estate Prices Climb 20 Percent, Sales Nearing $19B in 2022
May 24, 2022 - A backsliding economy and soaring inflation weren’t enough to slow record demand for industrial space nationwide in April.
The average national industrial rent hovered around $6.47 per square foot and vacancies remained at 5 percent in April, all while the construction pipeline had over 640 billion square feet of additional space in the works, according to a new report from CommercialEdge.
The lack of available industrial space is forcing activity to spill over into secondary markets such as Phoenix, Dallas and Columbus, Ohio, the report outlines.
And most firms offloading industrial real estate assets turned a hefty profit, with the national average sale price reaching $135 per square foot, 20 percent higher than 2021’s average. Industrial sales totaled nearly $19 billion year-to-date, according to CommercialEdge.
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