NYC’s industrial market maintained the momentum of a banner year in the fourth quarter with a 106% surge in leasing velocity to 1.5M SF, and more than 600K SF of net positive absorption.

The Big Apple notched an annual leasing velocity of 3.7M SF in 2022, a 23% increase over the total for 2021, according to CBRE’s Q4 market report. The leasing activity in Q4 was 32% higher than the three-year average for NYC.

Jack Rogers

 

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