Industrial pricing cooled somewhat in the third quarter, the average price per square foot declined from $136 to $127, according to CommercialEdge.
"Rising interest rates, inflation and other economic headwinds have dampened the transactions market," the firm notes in a new analysis. "Despite the decrease in the quarter, prices have increased 15.5% over the past year and 53.9% over the past two years."
Half of the top 30 markets surveyed by the firm saw prices slump in Q3, with the average sale price falling 40% in Baltimore, 36% in Charlotte, and 30% in Tampa and the Central Valley. But "with volume down in the quarter and a lag in collecting some sales, it is too early to say= whether this is the start of a trend or just a blip," the report says.
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