flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Construction of industrial space continues robust growth

Codes and Standards

Construction of industrial space continues robust growth

Rents continue to rise as over 600 million sf is in planning stages
 


By Peter Fabris, Contributing Editor | April 4, 2022
Construction Industrial Space
Courtesy Pixabay
Construction and development of new industrial space in the U.S. remains robust, with all signs pointing to another big year in this market segment.
 
According to a report by CommmercialEdge, 592.5 million square feet of industrial space was under construction nationwide by the end of February, amounting to 3.5% of existing stock. Over the past six months, the amount of industrial space grew by more than 90 million sf.
 
About 626 million sf of new development was in the planning stages, CommmercialEdge reported. Rising rents have supported this action. The national average for in-place industrial rents across the top 30 U.S. markets reached $6.45 per sf in February, marking a 4.4% year-over-year increase.
 
The rest of 2022 continues to look strong in the industrial space. Nationally, transactions totaled nearly $9.1 billion in the first two months of the year. “This strong start is a clear indication that investor interest in industrial properties is anything but abating, given that the first quarter of a year is typically the slowest for commercial real estate transactions,” CommmercialEdge says.

Related Stories

| Feb 9, 2012

Webinar focuses on lessons learned from LEED-certified industrial project

A Construction Specifications Institute webinar will focus on the lessons learned through the design and construction of a LEED-certified industrial project, Better Living Mill Shop, the first industrial building in Central Virginia to earn LEED certification.

| Feb 8, 2012

California likely to eliminate redevelopment agencies

Leaders of California cities had been trying to fashion a compromise with lawmakers after the state Supreme Court ruled the state had the authority to eliminate the agencies and use their property tax money for local services.

| Feb 8, 2012

Project aimed at economical seismic retrofits on historic Memphis structures

The group will develop a low-cost seismic retrofit model that would benefit aging brick-and-mortar structures. It involves bolting steel brackets to existing wooden floor and ceiling joists.

| Feb 8, 2012

Houston signs on to Better Buildings Challenge

The challenge has about $4 billion in federal and private-sector funds, which it will use for building energy upgrades nationwide in the next two years.

| Feb 8, 2012

OSHA offers free health and safety consulting for small businesses

The consultants offer confidential, non-punitive advice.

| Feb 8, 2012

Controversy over pay for prisoners on roofing job in Michigan

The disagreement was over whether the prisoners should have been paid prevailing wage for their brief time on the job because the project was paid for with a U.S. Department of Energy grant.

| Jan 30, 2012

ZigBee and ISO 50001: Two new standards to make buildings greener

These developments demonstrate the dynamic nature of the market and the continued need for development of program standards of many different types that help builders and owners translate high performance and sustainable buildings goals into practical measures on the ground.

| Jan 30, 2012

New firm-fixed-price rules on federal contracts impact construction industry

Contractors will need to be on the lookout for policies such as the Contractor Accountability for Quality clause.

boombox1
boombox2
native1

More In Category




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021