ROSEMONT, ILL. — U.S. industrial vacancy rates are at their lowest in more than a decade, according to third-quarter research findings from Rosemont, Ill.-based Cushman & Wakefield. The commercial real estate services firm’s latest report shows that significant space absorption and historically low supply is driving strong rent growth in most major industrial hubs. “Continued economic recovery, the evolution of e-commerce and a resurgence in domestic manufacturing have infused resiliency into the market for industrial space,” says John Morris, leader of Industrial Services for the Americas at Cushman & Wakefield. “Our sector continues to expand faster than other property classes, fueled by shifting consumer demand and retail service paradigms, and global growth dynamics.” During the third quarter, the overall national industrial vacancy rate dropped to 7 percent, 80 basis points lower than one year ago. Three of the 38 markets tracked by Cushman & Wakefield recorded vacancy rates under 4 percent, including California’s San Francisco Peninsula (3.5 percent), Greater Los Angeles (3.8 percent) and Orange County (3.8 percent). The full report can be found by clicking here. “Robust demand has led to 255.2 million square feet of leasing activity year-to-date, which is about the same level as a year ago …
