The US industrial market is on pace for a record leasing volume with activity through July reaching 587 million square feet – 52 percent more than the year-earlier period, according to a new report from CBRE. 

Sharply higher transportation costs – which are rising faster than rental rates – is helping to fuel this robust leasing activity.

The spike in transportation costs – across sea, land and air – is the result of backlogs at ports, rising fuel prices and increased strong consumer demand driven by e-commerce growth and the pandemic's continued effects. 

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