REJournals: Higher rates still haven’t slowed lease demand, rent growth in industrial sector
28 Aug 2023
News
Vacancies are down and average rents are up. Just more evidence that industrial real estate remains the most resilient commercial sector in the United States.
According to the August national industrial report from CommercialEdge, industrial in-place rents averaged $7.39 a square foot in July. CommercialEdge reports that this is up 7.5% from a year earlier.
At the same time, the national vacancy rate for the U.S. industrial sector fell to 4.4%. That’s down 10 basis points on a month-over-month basis.
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