Rents for modern warehouse product are surging, a trend acutely felt in the most desirable logistics locations, or prime submarkets, across the country, according to a report from Newmark.
In at least six of the nation's prime industrial warehouse submarkets, average taking rents for new construction are poised to cross the $10 per square foot mark—or have already crossed it.
A prime submarket is often centrally located within a metropolitan area and offers access to critical infrastructure, including airports and seaports, major highways and rail lines—fundamental attributes for tenants focused on reducing transportation costs and transit time.
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