In the fourth quarter, the US industrial market posted its strongest quarter ever with 89.8 million square feet of net absorption, according to Cushman & Wakefield.
In 2020, the sector absorbed 268.4 million square feet, which was 11.4% more than the 240.9 MSF reported at year-end 2019. Warehouse/distribution space carried the US industrial market in 2020 by absorbing 267.4 million square feet.
In Q4, new leasing totaled 178.8 million square feet, which drove the annual total to an all-time high of 659.1 MSF. Forty-three of the 80 markets tracked by C&W posted year-over-year (YOY) increases in new leasing activity. Eighteen of those markets saw more than 10 MSF of net new leasing activity. And 42 markets saw more 5.0 million square feet of new leasing activity in 2020.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
