Industrial rents have continued to increase only minimally in the Midwest in November, with six of the bottom eight markets for rent growth coming from the region, according to Yardi Matrix’s December industrial Report.
St. Louis was the slowest-growing market, with in-place rents increasing 2.7% over the past 12 months. Kansas City industrial rents increased 3.2%, Detroit rose 3.6% and Minneapolis/St. Paul was up 4.2%, the report found.
National in-place rents for industrial space grew 6.9% year-over-year in November, reaching an average of $8.27 per square foot. That was up three cents from October, said Yardi Matrix.
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