The good times for warehouse owners continue on.
As seen in the graphic below, US arehouse lease rates have never been as high as they were in the second quarter, when the average asking rent for industrial space reached $9.59 a square foot, according to new analysis from real estate firm Cushman & Wakefield:
Source: Wall Street Journal
That increase includes a 16.1% rise in rates in Q2 versus the same period last year.
That despite some signs demand is falling. Vacancy rates for industrial real estate also rose in Q2, reaching 4.1% in the second quarter after bottoming out at close to 3% late in 2022.
But market fundamentals continue to favor warehouse owners.
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