WASHINGTON, DC—Already exhibiting signs of recovery, the US industrial market could see as much as 150 million square feet of absorption this year. What's more, next year's take-up could hit 175 million square feet, according to the NAIOP Industrial Space Demand Forecast.

Those figures represent increases of 50% and 75%, respectively, over the 100 million square feet of absorption the industrial sector experienced in 2012.

The results aren't really surprising, Dr. Randy Anderson, president of New York City-based Bluerock Real Estate LLC, tells GlobeSt. “Industrial has heated up,” he says. “We've been looking at the growth rate and trajectory of the ISM PMI, which is usually a year-out leading indicator of industrial demand, and it's been gradually increasing. We've been watching the Federal Reserve's index of manufacturing output, which is a six-month leading indicator, and it's been strong over the past four to five quarters.”