TAG Industrial Watch: October 26, 2024
As we wrap up our recap of the industrial market’s third-quarter performance, we turn our attention to TAG’s top markets in the Midwest and West. In Chicago, the nation’s largest industrial market, vacancy rates held steady and under the national average at 5.4% with demand keeping pace with supply. However, like most markets, Chicago’s annual rent growth continued to decelerate, slipping 140 basis points in the quarter to 4.3 percent but remaining above the 2.6% increase in the Consumer Price Index. Between Saint Louis and Kansas City, vacancy rates were down 20 basis points to 5.0% as demand topped supply by 48%. The vacancy rate wasn’t the only key metric that bucked the national trend in America’s Heartland with rent growth ticking up 20 basis points to 4.5%.
Moving West to the Mile High City, vacancies trended lower again after touching the highest level in over a decade at the end of 2023, falling 30 basis points to 7.8% thanks to supply leveling off. Nonetheless, Denver’s rent growth dropped to a 12-year low of 2.5%, down 150 basis points.
I N D U S T R I A L N E W S
Port-Proximate Real Estate Continues Cooling Trend
GlobeSt.com – October 21, 2024
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Industrial Broker Looks To Seal The
Deal On Netflix’s ‘Love Is Blind’
Bisnow – October 3, 2024
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Sale-Leasebacks Vs. Commercial Loans
Commercial Property Executive – October 16, 2024
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US Industrial Vacancy Rate Rises
At Slowest Pace In 18 Months
CoStar – October 9, 2024
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Mortgage Demand Drops To Its Lowest Level Since
July, As Interest Rates Return To Summer Highs
CNBC – October 23, 2024
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R E G I O N A L N E W S
DFW National Leader In Industrial RE Category
Connect CRE – October 9, 2024
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Industrial Construction In Inland Empire
Is At Its Lowest Point Since 2013
Bisnow – October 9, 2024
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Olive Breaks Ground On Austin Industrial Park
Commercial Property Executive – October 14, 2024
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Here Are The Top Landlord And
Tenant-Friendly Industrial Markets
GlobeSt.com – October 10, 2024
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CapRock Partners Acquires 32.5-Acres In East Dallas
Submarket For Future Industrial Development
CapRock Partners – September 11, 2024
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