5 Up-and-Coming Industrial Markets to Consider for This Year

The industrial asset class is continuing a white-hot streak in 2021—and a number of emerging markets are gaining popularity as alternatives to more traditional core regions. The following markets command spots five through 10 on Colliers’ recent list of top emerging industrial markets. To read about Colliers’ top five markets, go here. 

Home to more than 27,000 companies and 400 trucking companies, Memphis “pairs competitive lease rates with top-line product quality,” according to Colliers. It also benefits from close proximity to Memphis International Airport, one of the world’s busiest cargo airports, and the International Port of Memphis, the second largest inland port on the Mississippi River and the fifth largest inland port in the US. Industrial vacancy was low in 2020 and ended at 6.2%, and new construction added 6 million square feet of spec inventory to the market. The year also ended with recorded-setting net absorption of more than 11 million square feet, and 17 projects totaling 12 million square feet are slated to be delivered by the third quarter of 2021.  Rental rates grew by 3% last year, and investment sales remained steady with $636 million transacted across 17.7 million square feet.