National in-place rents for industrial space increased 6.8% year over year in October to $8.22 per square foot, which was a six-cent increase from September, according to CommercialEdge’s US industrial market report.
October was one of the few months in which a Southern California market did not lead in rent growth. Industrial rents grew fastest in Miami – up 11% year-over-year – with more than 15 million square feet of new, high-quality industrial space coming to market since 2022. Other Southern markets also saw strong growth, with in-place rents increasing 9% in Atlanta and 8.7% in Nashville over the past year.
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