{"id":4987,"date":"2022-11-04T15:14:05","date_gmt":"2022-11-04T15:14:05","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4987"},"modified":"2023-09-13T05:02:46","modified_gmt":"2023-09-13T05:02:46","slug":"industrial-real-estate-trends-october-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/industrial-real-estate-trends-october-2022\/","title":{"rendered":"Industrial Real Estate Trends &#8211; October 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Industrial Rents Continue Aggressive Climb Despite New Supply Wave<\/h2>\n\n\n\n<p>September in-place rents reached $6.88 per square foot, nearly a 6 percent increase the same period last year, according to the<a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/File\/2933-MatrixIndustrialReport-October2022\"> <strong>latest Yardi Matrix industrial report<\/strong><\/a>.<\/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 $6.88 per square foot in September,<strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/industrial-real-estate-market-trends-october-2021\/\"> up 5.8 percent year-over-year<\/a><\/strong>.<\/li>\n\n\n\n<li>New leases averaged $8.26 per square foot, or $1.38 more than the average in-place lease.<\/li>\n\n\n\n<li>Nationwide industrial vacancy averaged 4.1 percent at the end of September, unchanged from the previous month.<\/li>\n\n\n\n<li>The under-construction pipeline encompassed a little over 703 million square feet of industrial space as of September.<\/li>\n\n\n\n<li>National industrial transaction volume amounted to $65.4 billion year-to-date in September.<\/li>\n<\/ul>\n\n\n\n<p>National in-place rents for industrial space averaged $6.88 per square foot in September, increasing by 5.8 percent on a year-over-year basis. The cost of a new lease signed in the last year continued to rise, averaging $8.26 per square foot, or $1.38 more than the average rental rate. Average rents grew fastest in port markets and centrally located logistics hubs such as the Inland Empire (9.6 percent year-over-year), Los Angeles (9.1 percent) and Boston (7.7 percent).<\/p>\n\n\n\n<p>The active pipeline included more than 703 million square feet of industrial space under construction at the end of September\u2014accounting for 4.0 percent of total stock\u2014and an additional 650.3 million square feet in planning stages. As of September, the markets with the largest pipelines as a percentage of existing stock were in Phoenix (44.8 million square feet under construction, 15.1 percent of stock), Indianapolis (24.9 million, 7.6 percent) and Dallas-Ft. Worth (61.9 million, 7.3 percent).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Average sale prices record quarterly dip<\/h2>\n\n\n\n<p>Industrial transactions totaled $65.4 billion year-to-date in September, with average sale prices reaching $128 per square foot. After increasing for seven quarters straight, the average sale price fell in the third quarter to $127 per square foot from $136 per square foot in the second quarter. Half of the top 30 markets covered by Yardi Matrix saw prices go down in the same timeframe; Average sale prices decreased by 40 and 36 percent in Baltimore and Charlotte, respectively.<\/p>\n\n\n\n<p>At the other side of the spectrum, not every market saw declines in sale prices in the third quarter; Average sale prices increased by 57 percent in Columbus and by 41 percent in Atlanta. However, despite the quarterly decrease, overall sale prices rose 15.5 percent throughout the past year and 53.9 percent over the past two years.<\/p>\n\n\n\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/File\/2933-MatrixIndustrialReport-October2022\"><strong>Matrix Industrial Report-October 2022<\/strong><\/a><\/p>\n\n\n\n<div style=\"height:42px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Industrial Rents Continue Aggressive Climb Despite New Supply Wave September in-place rents reached $6.88 per square foot, nearly a 6 percent increase the same period last year, according to the latest Yardi Matrix industrial report. Report Highlights National in-place rents for industrial space averaged $6.88 per square foot in September, increasing by 5.8 percent on [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":4988,"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-4987","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 Real Estate Trends - October 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"September in-place rents reached $6.88 per square foot, nearly a 6% increase the same period last year, according to the latest Yardi Matrix 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\/industrial-real-estate-trends-october-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industrial Real Estate Trends - October 2022\" \/>\n<meta property=\"og:description\" content=\"September in-place rents reached $6.88 per square foot, nearly a 6% increase the same period last year, according to the latest Yardi Matrix report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/industrial-real-estate-trends-october-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-04T15:14:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T05:02:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/11\/industrial-October-iStock-1351436377.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":"Industrial Real Estate Trends - October 2022 - Yardi Matrix Blog","description":"September in-place rents reached $6.88 per square foot, nearly a 6% increase the same period last year, according to the latest Yardi Matrix 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\/industrial-real-estate-trends-october-2022\/","og_locale":"en_US","og_type":"article","og_title":"Industrial Real Estate Trends - October 2022","og_description":"September in-place rents reached $6.88 per square foot, nearly a 6% increase the same period last year, according to the latest Yardi Matrix report.","og_url":"https:\/\/www.yardimatrix.com\/blog\/industrial-real-estate-trends-october-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-11-04T15:14:05+00:00","article_modified_time":"2023-09-13T05:02:46+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/11\/industrial-October-iStock-1351436377.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\/industrial-real-estate-trends-october-2022\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/industrial-real-estate-trends-october-2022\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Industrial Real Estate Trends &#8211; 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