{"id":7308,"date":"2024-03-01T07:39:00","date_gmt":"2024-03-01T07:39:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7308"},"modified":"2024-04-29T09:09:34","modified_gmt":"2024-04-29T09:09:34","slug":"us-industrial-market-outlook-february-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/us-industrial-market-outlook-february-2024\/","title":{"rendered":"U.S. Industrial Market Outlook \u2013 February 2024"},"content":{"rendered":"\n

Read the latest Yardi Matrix Industrial Market Report<\/a><\/strong>.<\/p>\n\n\n

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Reduced demand and absorption of record supply will cool industrial rent growth this year.<\/em><\/p>\n

Report Highlights<\/h2>\n
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  • National in-place rents for industrial space averaged at $7.74 per square foot at the end of January, a 7.6 percent increase from January 2023.<\/li>\n
  • Nationwide industrial vacancy increased slightly from the previous month and averaged 4.8 percent at the end of January.<\/li>\n
  • Total industrial transaction volume amounted to $2.6 billion in the first month of 2024.<\/li>\n
  • The under-construction pipeline featured 424.5 million square feet of industrial space as of January.<\/li>\n<\/ul>\n

    Rent growth to cool this year<\/h2>\n

    In January, the national average for industrial space in-place rents hit $7.74 per square foot, showing a significant year-over-year increase of 760 basis points, with a slight 4-cent uptick from the previous month<\/strong><\/a>. Looking ahead, Yardi Matrix forecasts a rent growth decline due to reduced demand and oversupply saturation. Despite these challenges, fundamental factors backing the industrial real estate sector remain positive, suggesting stable rent growth overall.<\/p>\n