The Real Deal New York

US industrial market rents soar in light of short supply and tenant demand

June 16, 2017 03:06PM

Landlords in retail and residential real estate may be singing the blues, but those in the industrial sector have reason to celebrate. According to a new JLL report, industrial rents hit an all-time high and are set to keep rising as demand swells. Consumer spending and increased e-commerce sales are among the main drivers for the industry. Annual net absorption grew 11.9 percent to 58.4 million square feet. Philadelphia, Dallas and Atlanta led the sector. Those three markets combined contributed 34 percent of the total US industrial rental space. [JLL]