Colliers: US Industrial Vacancy Lowest In A Decade
The newest US Industrial Outlook from Colliers puts Q1 2016 in its sights. Bottom line: the news is good. Q1 shows the lowest national industrial vacancy rate in over a decade. Decline in industrial vacancy marked its 22nd consecutive quarter to arrive at 6.3%, which is 70 basis points lower than this time last year.
Although new construction is on the rise, the demand still outpaces new supply. According to Colliers, construction completions added up to 60.1 million square feet of new supply in 1Q 2016, adding up to a near-record 0.40% of total inventory. At the same time, 63.8 MSF of industrial space was absorbed, logging an eye-popping 9.6% increase over this time last year.
You can download a free copy of the information-packed report from Colliers “US Industrial Market Healthy Despite Headwinds” after the link.