{"id":1004571022,"date":"2022-03-16T08:51:00","date_gmt":"2022-03-16T16:51:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004571022"},"modified":"2024-11-08T07:37:21","modified_gmt":"2024-11-08T15:37:21","slug":"port-markets-lead-industrial-activity","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/port-markets-lead-industrial-activity\/","title":{"rendered":"Port Markets Lead Industrial Activity"},"content":{"rendered":"\n<p>Industrial demand continues to soar, with nearly every port across the nation seeing record activity, according to the latest CommercialEdge industrial report. While activity is concentrated nearby <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-driving-the-industrial-bull-run-in-greater-los-angeles\/\">the ports of Los Angeles<\/a> and Long Beach and the Port of New York and New Jersey, smaller markets are keeping busy, too. The Savannah-Hilton Head market\u2014housing the third-busiest port in the country\u2014is undergoing a $150 million expansion spearheaded by the Georgia Ports Authority, aiming to increase its container capacity by 25 percent until summer.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/e-commerce-powers-the-rise-of-multistory-industrial-projects\/\">E-commerce Powers the Rise of Multistory Industrial Projects<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/03\/Matrix-Industrial-Report-February-2022-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"518\" data-attachment-id=\"1004736635\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/port-markets-lead-industrial-activity\/matrix-industrial-report-february-2022-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/03\/Matrix-Industrial-Report-February-2022-1.jpg\" data-orig-size=\"400,518\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Matrix-Industrial-Report-February-2022-1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/03\/Matrix-Industrial-Report-February-2022-1.jpg?w=400\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/03\/Matrix-Industrial-Report-February-2022-1.jpg\" alt=\"Matrix National Industrial Report, February 2022\" class=\"wp-image-1004736635\" style=\"width:350px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/03\/Matrix-Industrial-Report-February-2022-1.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/03\/Matrix-Industrial-Report-February-2022-1.jpg?resize=232,300 232w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><\/figure><\/div>\n\n\n<p>National average full-service equivalent listing rates averaged $6.46 per square foot in January, up 400 basis points year-over-year. Although some of the largest growth in industrial rents took place in California and northeastern port markets such as Inland Empire (6.0 percent year-over-year) and New Jersey (5.9 percent), Nashville led the way in this sense: Industrial rents averaged $5.20 per square foot in January, representing a 6.3 percent increase when compared to January 2021.<\/p>\n\n\n\n<p>Meanwhile, national industrial vacancy stood at 5.5 percent in January, a 20-basis-point drop from the prior month. While industrial supply continues to remain tight in <a href=\"https:\/\/www.commercialsearch.com\/news\/navigating-californias-strong-industrial-market\/\">most of Southern California<\/a>, Midwestern markets with below-average industrial vacancies such as Columbus (1.3 percent) or Indianapolis (2.6 percent) recorded the weakest rent growth in the country.<\/p>\n\n\n\n<p>The active pipeline included 587.8 million square feet of industrial space under construction as of January\u2014accounting for 3.5 percent of total stock\u00ad\u2014while when taking into account planned projects, the rate is pushed to 7 percent of existing stock. Some of the largest pipelines are located in popular logistics hubs such as Indianapolis, where more than 29 million square feet of industrial space was under construction at the end of January, or 9.4 percent of the metro\u2019s existing stock.<\/p>\n\n\n\n<p>Read the full\u00a0<a href=\"http:\/\/www.yardimatrix.com\/publications\/download\/file\/1534-MatrixIndustrialReport-February2022?signup=false\" target=\"_blank\" rel=\"noreferrer noopener\">CommercialEdge report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Robust activity at the nation\u2019s ports is paving the way for an unprecedented industrial pipeline, according to the latest CommercialEdge report.<\/p>\n","protected":false},"author":741,"featured_media":1004572363,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21748,23891,21742,41267],"tags":[50674],"class_list":["post-1004571022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-industrial","category-national","category-latest","category-yardimatrix-reports","tag-commercialedge"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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