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Top 20 Markets for Industrial Rent Growth

Industrial space availability is extremely tight. Tenants in many markets are willing to pay premiums for their leases.

With vacant industrial space still hard to come by, U.S. industrial rents continued to rise in February, according to the most recent report from CommercialEdge, a commercial real estate data platform powered by Yardi Matrix. The firm reports that average rents for in-place industrial leases reached $6.45 per sq. ft. during the month, representing a 4.4 percent increase compared to February 2021. That coincided with a 30-basis-point month-over-month decline in industrial vacancy around the country, to 5.2 percent. Industrial markets in close proximity to major U.S. ports showed particularly big jumps in average rents, reaching year-over-year growth as high as 7.0 percent.

The following gallery lays out which markets showed the greatest jumps in in-place industrial rents from February 2021 through February 2022, as estimated by CommercialEdge researchers.

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