US industrial rents have grown significantly this year, despite—or perhaps driven by—the global coronavirus pandemic. According to the Winter 2020 US industrial and logistics report from Colliers International, US industrial rents have increased 5.6% year-over-year. Industrial rents continued to gain steam in the third quarter, increasing 2.6% quarter-over-quarter to $7.21 per square foot.

Although industrial assets have seen tremendous demand this year due to an increase in online shopping during the pandemic, Colliers attributes the rent growth to a large influx of new industrial supply, specifically modern distribution facilities. At the end of the third quarter, the US construction pipeline totaled 328 million square feet, including 75 mega-facilities, which total 1 million square feet or more.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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