According to Cushman & Wakefield Industrial Research:
“The overall vacancy rate for the U.S. Industrial sector declined to 6.8% in the fourth quarter of 2014, the lowest national industrial vacancy experienced since 2001. National leasing activity climbed to its highest point since 2005 with 340 million square feet of new activity in 2014, and overall absorption reached an all-time high with 159.1 msf of positive absorption. New construction completions totaled 104.7 msf, the highest level of new construction to deliver since 2008. While the recovery of the U.S industrial sector since the economic recession appears to be fairly balanced, the top 10 core industrial markets* have been leading the way, posting strong numbers in 2014.
*Top 10 markets are: Chicago, Los Angeles, Inland Empire, New Jersey, Atlanta, Houston, Dallas/Fort Worth, Miami, PA I-81/I-78 Corridor and Philadelphia.”