Industrial Still Going Strong

The industrial market has continued to make gains in virtually every aspect, the latest CommercialEdge report shows. Though the sector has been affected by myriad difficulties, from severe supply-chain bottlenecks to skyrocketing construction costs, demand for industrial real estate has only grown.

Nationwide, industrial rents hit an average of $6.37 per square foot in October, a 3.9 percent gain over the year. New leases had an average premium of $0.82 per square foot, highlighting the sustained, elevated demand in the sector across the country. The highest rents were in California, with Orange County averaging $11.47 per square foot followed by the Bay Area (at $10.87 per square foot) and Los Angeles ($10.20 per square foot)...