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National  + Industrial  | 
SIOR confidence in the industrial market dipped for the first time in the society's latest Snapshot Sentiment Report

U.S. Industrial Vacancy Hits New Low, Again 

Cushman & Wakefield said Monday that strong demand for industrial space pushed first-quarter vacancy, once again, to an all-time low of 3.3% nationwide. It also drove rental rates up 15.2% year-over-year  

The construction pipeline surpassed last quarter’s record, with 660,843,714 square feet under construction. That’s an iccrease of 17.7% from the previous quarter. 

“The construction pipeline is incredibly robust – and under normal circumstances might be cause for concern,” said Carolyn Salzer, Americas head of logistics & industrial research at Cushman & Wakefield. “However, given the insatiable demand for industrial space and vacancy continuing to redefine ‘’historic low,’ this is a healthy response to the market conditions.” 

Across the U.S. leasing activity remained strong in Q1, with more than 200 million square feet absorbed for the sixth quarter in a row. However, activity was down both Y-O-Y and quarter-over-quarter, due to a lack of available space

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Cushman & Wakefield's Salzer

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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