{"id":4630,"date":"2022-09-07T14:07:06","date_gmt":"2022-09-07T14:07:06","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4630"},"modified":"2023-09-13T08:53:24","modified_gmt":"2023-09-13T08:53:24","slug":"national-industrial-market-report-august-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/national-industrial-market-report-august-2022\/","title":{"rendered":"National Industrial Market Report &#8211; August 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>Industrial Lease Spreads Reach Record Levels<\/strong><\/h2>\n\n\n\n<p>Industrial rents averaged $6.60 per square foot in July, while new leases cost $1.45 more, according to the <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/File\/2657-MatrixIndustrialReport-August2022\">latest Yardi Matrix industrial report<\/a><\/strong>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Report Highlights<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Industrial in-place rents clocked in at $6.60 per square foot in in July, up 5.3 percent from the same time last year.<\/li>\n\n\n\n<li>Industrial vacancy nationwide continues its downward trajectory, averaging 4.4 percent at the end of July, down 20 basis points month-over-month.<\/li>\n\n\n\n<li>The under-construction pipeline encompassed 695.7 million square feet of industrial space as of July.<\/li>\n\n\n\n<li>National industrial transaction volume totaled $49.9 billion at the end of July.<\/li>\n<\/ul>\n\n\n\n<p>National in-place rents for <strong>industrial space averaged $6.60 per square foot in July<\/strong>, increasing by 5.3 percent on a year-over-year basis. The cost of a new lease signed in the last year averaged $8.05 per square foot, $1.45 more than the average rental rate. Average rents grew fastest in port markets such as <strong>Inland Empire<\/strong> (8.7 percent year-over-year), <strong>Boston <\/strong>(8.0 percent) and <strong>New Jersey<\/strong> (7.8 percent), largely due to supply-chain imbalances fueled by bottlenecks and increasing inflation.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Construction activity hot in Midwestern markets<\/strong><strong><\/strong><\/h4>\n\n\n\n<p>The <strong>active pipeline continued to grow<\/strong>, although industrial deliveries in the first seven months of 2022 amounted to almost 200 million square feet. Some 695.7 million square feet of industrial space was underway across the nation at the end of July\u2014accounting for 4.0 percent of total stock\u2014and an additional 661.9 million square feet was in planning stages. &nbsp;<\/p>\n\n\n\n<p>As of July, the markets with the largest pipelines on a percentage of existing stock basis were in <strong>Phoenix <\/strong>(45.2 million square feet under construction, 15.6 percent of stock), <strong>Indianapolis <\/strong>(25.2 million, 7.8 percent), <strong>Dallas <\/strong>(61.4 million, 7.3 percent), and <strong>Columbus <\/strong>(17.9 million, 6.5 percent), an emerging data center hub.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Transaction volume nears $50 billion mark<\/strong><strong><\/strong><\/h4>\n\n\n\n<p><strong>Industrial transactions totaled $49.9 billion year-to-date in July<\/strong>, with average sale prices reaching $130 per square foot, the Yardi Matrix report shows. Transaction activity was concentrated in Los Angeles ($3.3 billion), where investment sales have been bundled near the ports of Los Angeles and Long Beach, Houston ($3.1 billion) and the Inland Empire ($2.9 billion). &nbsp;<\/p>\n\n\n\n<p>Meanwhile, industrial assets commanded the highest prices per square foot in Southern California markets such as Orange County ($364 per square foot), the Inland Empire ($336) and Los Angeles ($291), as well as Seattle ($245) and the Bay Area ($239).<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/File\/2657-MatrixIndustrialReport-August2022\">Matrix Industrial Report-August 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 Lease Spreads Reach Record Levels Industrial rents averaged $6.60 per square foot in July, while new leases cost $1.45 more, according to the latest Yardi Matrix industrial report. Report Highlights National in-place rents for industrial space averaged $6.60 per square foot in July, increasing by 5.3 percent on a year-over-year basis. The cost of [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":4631,"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-4630","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>National Industrial Market Report - August 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Industrial rents averaged $6.60 per square foot in July, while new leases cost $1.45 more, according to the latest Yardi Matrix industrial report.\" \/>\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\/national-industrial-market-report-august-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Industrial Market Report - August 2022\" \/>\n<meta property=\"og:description\" content=\"Industrial rents averaged $6.60 per square foot in July, while new leases cost $1.45 more, according to the latest Yardi Matrix industrial report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/national-industrial-market-report-august-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-07T14:07:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T08:53:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/09\/industrial-August-iStock-1221284470.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=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"National Industrial Market Report - August 2022 - Yardi Matrix Blog","description":"Industrial rents averaged $6.60 per square foot in July, while new leases cost $1.45 more, according to the latest Yardi Matrix industrial report.","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\/national-industrial-market-report-august-2022\/","og_locale":"en_US","og_type":"article","og_title":"National Industrial Market Report - August 2022","og_description":"Industrial rents averaged $6.60 per square foot in July, while new leases cost $1.45 more, according to the latest Yardi Matrix industrial report.","og_url":"https:\/\/www.yardimatrix.com\/blog\/national-industrial-market-report-august-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-09-07T14:07:06+00:00","article_modified_time":"2023-09-13T08:53:24+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/09\/industrial-August-iStock-1221284470.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Corina Stef","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/national-industrial-market-report-august-2022\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/national-industrial-market-report-august-2022\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"National Industrial Market Report &#8211; 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