Search
 
Analysis

Port Markets Nab Biggest Industrial Rent Increases

New leases in New Jersey cost on average $2.60 more per square foot than in-place leases.

By Lynn Pollack | October 22, 2021 at 07:38 AM

Port markets commanded the biggest industrial rent increases in September, with New Jersey, the Inland Empire and Nashville all posting upticks of more than 6% year-over-year.

Overall, the average asking rent across the top 30 US markets surveyed last month by CommercialEdge came in at $6.35 per square foot, an increase of 3.5% year-over-year but flat from the previous month but unchanged compared to the previous month. But in port markets, the increase was nearly double. New Jersey led with the largest increase at 6.4% over the last year, followed by Southern California’s Inland Empire at 6.1% and Nashville at 6%.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Nominate a Net Lease Expert

Nominate a Net Lease Expert

Ingrid Tunberg |

Do you know a professional and/or company that has helped shape the net lease sector? Submit a candidate for GlobeSt.'s Influencers in Net Lease recognition before May 29!

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.