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C&W: Q1 Industrial Absorption Up Y-O-Y

NEW YORK CITY—The increase marks 24 consecutive quarters of positive net occupancy gains for the sector, according to a new report.

Kevin Thorpe Thorpe: “Consumers drive demand for industrial space and the consumer is feeling confident and spending.”

NEW YORK CITY—US industrial markets absorbed nearly 58 million square feet of space in the first quarter of 2016, up 9.3% from the first quarter a year ago, according to Cushman & Wakefield’s first quarter industrial report.

This marked 24 consecutive quarters of positive net occupancy gains for the sector, placing the current expansion among the longest on record. It is also among the strongest. The US industrial market shed over 182 million square feet of occupancy during the economic downturn, but it has absorbed more than 990 million square feet in the expansion.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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