Vacant industrial spaces are still hard to come by, with US industrial rents continuing to rise in February, according to the most recent report from CommercialEdge, a commercial real estate data platform powered by Yardi Matrix. The firm reports that the average rent for in-place industrial leases reaches $6.45 per square foot. ft represents an increase of 4.4 percent during the month, compared to February 2021. This led to a 30-basis-point month-on-month decline in industrial vacancy nationwide to 5.2 percent. Industrial markets close to major US ports took a particularly big jump in average fares, reaching 7.0 percent year-on-year growth.
The following gallery shows which markets saw the biggest jump in industrial rents from February 2021 to February 2022, as predicted by CommercialEdge researchers.