The US industrial market rounded out 2021 with dramatic leasing activity across the board in the fourth quarter, with asking rents growing at near-record levels and capital markets volume reaching record territory at $160.3 billion.
A new report from Newmark signals that 2022 will be another blockbuster year for the sector, which has seen surging demand throughout the COVID-19 pandemic.
"Space to produce, warehouse, and distribute goods has been in high demand as firms race to keep up with consumption," the report notes. "The construction pipeline grew to half a billion square feet in the fourth quarter of 2021. With such a record volume of space underway, deliveries should pick up in 2022, despite ongoing pandemic-related obstacles."
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