{"id":4541,"date":"2022-08-12T09:52:19","date_gmt":"2022-08-12T09:52:19","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4541"},"modified":"2023-09-13T08:55:55","modified_gmt":"2023-09-13T08:55:55","slug":"industrial-market-outlook-july-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/industrial-market-outlook-july-2022\/","title":{"rendered":"Industrial Market Outlook &#8211; July 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>Industrial Vacancy Remains Tight Amid Escalating Rents<\/strong><\/h2>\n\n\n\n<p><strong>Average industrial rents clocked in at $6.57 per square foot in June<\/strong>, up 4.9 percent from the same time in 2021, the <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/File\/2529-MatrixIndustrialReport-July2022\">latest Yardi Matrix industrial report shows<\/a><\/strong>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Report Highlights<\/strong><strong><\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Industrial in-place rents averaged $6.57 per square foot in June, up 4.9 percent from the same time last year.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Industrial vacancy nationwide averaged 4.6 percent in June, decreasing by 10 basis points from the previous month.<\/li>\n\n\n\n<li>National industrial transaction volume surpassed $39.5 billion in the first half of the year.<\/li>\n\n\n\n<li>Neary 667.5 million square feet of industrial space was under construction as of June across the nation.<\/li>\n<\/ul>\n\n\n\n<p>National industrial vacancy was 4.6 percent in June, <strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/industrial-real-estate-outlook-june-2022\/\">a 10-basis-point decrease from the prior month<\/a><\/strong>. Vacancy was lowest in California, particularly in the Inland Empire (0.6 percent) and Los Angeles (1.9 percent). Meanwhile, vacancy stood below the 3.0 percent-mark in logistic hubs such as Columbus (1.4 percent), Nashville (2.1 percent) and Indianapolis (2.4 percent) and port markets including New Jersey (2.8 percent).<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Coastal markets dominate rent growth<\/strong><strong><\/strong><\/h4>\n\n\n\n<p>National in-place rents for industrial space averaged $6.57 per square foot in June, increasing by 4.9 percent on a year-over-year basis and four cents when compared to May. Average rents grew fastest in coastal markets, with the Inland Empire (7.4 percent year-over-year), Los Angeles (6.8 percent) and Orange County (6.5 percent) leading the way in this aspect.<\/p>\n\n\n\n<p>The cost of a new lease in the last 12 months continued to grow, reaching an average of $7.65 per square foot, 88 cents more than the average rental rate. Southern California markets posted the largest spreads between average rental rates and new leases, largely due to their limited supply of developable land.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Pipeline, average sale prices on the rise<\/strong><strong><\/strong><\/h4>\n\n\n\n<p>Some <strong>667.5 million square feet of industrial space was underway across the nation<\/strong> at the end of June\u2014accounting for 3.8 percent of total stock\u2014while 684.6 million square feet are in planning stages. Industrial deliveries in the first half of 2022 amounted to 159.6 million square feet, with the bulk concentrated in Dallas-Fort Worth (15.9 million square feet), Indianapolis (7.9 million) and Phoenix (7.7 million square feet).<\/p>\n\n\n\n<p><strong>Industrial transactions totaled $39.6 billion year-to-date in June<\/strong>. Average sale prices reached $129 per square foot in the first six months of the year, representing a 12.4 percent uptick over the first quarter and a 31.3 percent increase when compared to June 2021. Transaction activity was concentrated in Houston (2.8 billion year-to-date in June), Chicago (2.3 billion), Los Angeles (2.2 billion), Phoenix (2 billion) and New Jersey (1.8 billion). Meanwhile, industrial assets traded at the highest price in Southern California markets such as Orange County ($350 per square foot), the Inland Empire ($299) and Los Angeles ($282).<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/File\/2529-MatrixIndustrialReport-July2022\">Matrix Industrial Report-July 2022<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Industrial Vacancy Remains Tight Amid Escalating Rents Average industrial rents clocked in at $6.57 per square foot in June, up 4.9 percent from the same time in 2021, the latest Yardi Matrix industrial report shows. Report Highlights National industrial vacancy was 4.6 percent in June, a 10-basis-point decrease from the prior month. Vacancy was lowest [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":4542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[216,4],"tags":[336],"class_list":["post-4541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial-market","category-real-estate-trends","tag-industrial-real-estate-outlook"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Industrial Market Outlook - July 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Average industrial rents clocked in at $6.57 per square foot in June, up 4.9 percent from the same time in 2021, the latest Yardi Matrix industrial report shows.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/industrial-market-outlook-july-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industrial Market Outlook - July 2022\" \/>\n<meta property=\"og:description\" content=\"Average industrial rents clocked in at $6.57 per square foot in June, up 4.9 percent from the same time in 2021, the latest Yardi Matrix industrial report shows.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/industrial-market-outlook-july-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-12T09:52:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T08:55:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/08\/Industrial-July-iStock-500328404.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Corina Stef\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Industrial Market Outlook - July 2022 - Yardi Matrix Blog","description":"Average industrial rents clocked in at $6.57 per square foot in June, up 4.9 percent from the same time in 2021, the latest Yardi Matrix industrial report shows.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/industrial-market-outlook-july-2022\/","og_locale":"en_US","og_type":"article","og_title":"Industrial Market Outlook - July 2022","og_description":"Average industrial rents clocked in at $6.57 per square foot in June, up 4.9 percent from the same time in 2021, the latest Yardi Matrix industrial report shows.","og_url":"https:\/\/www.yardimatrix.com\/blog\/industrial-market-outlook-july-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-08-12T09:52:19+00:00","article_modified_time":"2023-09-13T08:55:55+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/08\/Industrial-July-iStock-500328404.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Corina Stef","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/industrial-market-outlook-july-2022\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/industrial-market-outlook-july-2022\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Industrial Market Outlook &#8211; 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