With vacant industrial space still hard to come by, U.S. industrial rents continued to rise in February, according to the most recent report from CommercialEdge, a commercial real estate data platform powered by Yardi Matrix. The firm reports that average rents for in-place industrial leases reached $6.45 per sq. ft. during the month, representing a 4.4 percent increase compared to February 2021. That coincided with a 30-basis-point month-over-month decline in industrial vacancy around the country, to 5.2 percent. Industrial markets in close proximity to major U.S. ports showed particularly big jumps in average rents, reaching year-over-year growth as high as 7.0 percent.
The following gallery lays out which markets showed the greatest jumps in in-place industrial rents from February 2021 through February 2022, as estimated by CommercialEdge researchers.
