How much does it cost to rent or lease warehouse space across the world?
Well, thanks to the work by the research arm of real estate firm CRBE, we now know, at least as they were at the end of 2015.
In a new report released a few weeks ago, CRBE Reserch tallied average rental rates for quality properties across the 68 largest markets in the world, based on an annualized per square foot basis as of the end of 2015, using 2015 exchange rates.
As can be seen in the chart below from the report, land-constricted Hong Kong by far topped the list, at $28.94 per square foot, nearly double the rate of $16.94 found in Tokyo. London ($16.36), Singapore ($10.91) and Stockhold ($9.90) round out the top 5.
Warehouse Rental Rates, Largest 68 Global Metro Areas
Source: CRBE Research
No US metro areas made the top 10, but the Los Angeles area was number 12 ($8.04), while Houston came in at number 17 ($7.59) and Oakload number 21 ($7.32) after leading all markets with a nearly 30% rise in 2015.
In fact, six of the 10 markets with the fastest rising rates last year were in the US, which besides Oakland included New Jersey, California's Inland Empire, LA/Orange Country, Dallas and Atlanta.
But even with the 6.8% increase last year, Atlanta was still at the bottom of the list of 68 markets, with rental rates of just $3.13 per square foot, barely below number 67 Dallas ($3.76) and number 66 Chicago ($4.13). All three areas still have abundant land available for DC construction.
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