National industrial in-place rents increased by 7.6% year-over-year to an average of $7.74 per square foot in January as the industrial new supply pipeline undergoes a rebalancing, according to CommercialEdge's February Industrial Report.
The national vacancy rate rose 20 bps month-over-month to 4.8% as nationwide, an increase of 80 basis points over the last 12 months.
Nearly 425 million square feet of industrial space was under construction. New deliveries are forecast to decline in coming years, according to CommercialEdge.
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