CHICAGO—The US industrial market rebounded during the third quarter from a relatively slow start to the year, according to the latest stats from Colliers International. Tenants absorbed just a bit under 69 million square feet, the third highest quarter on record.
The firm's researchers attribute much of the market's energy to e-commerce and third-party logistics users, which have helped push occupancy gains for the year to more than 183 million square feet and lowering the overall vacancy rate 0.2 percentage points to just 5.2%.
“Looking forward, the industrial sector should continue to benefit from supply chain modernization brought on by e-commerce demand, although labor availability might prove challenging,” the report says.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
