HORIZONTV FEATURING BD+C: WATCH EPISODES ON DEMAND AT HORIZONTV

𝕏

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

Continue Reading

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.

Tags

Related Stories

Passive House standards proving their worth in multifamily sector

Codes and Standards | Jun 1, 2021

Passive House standards proving their worth in multifamily sector

Energy performance beats conventionally built by 32% to 58%.

Codes and Standards | May 27, 2021

Pittsburgh combats construction fraud

Crackdown on tax, insurance, and workers’ comp malfeasance.

Codes and Standards | May 26, 2021

Proposal to add photovoltaic panels to the R2 Standard for electronics recycling

Hundreds of facilities in 33 countries could begin recycling PVs.

Codes and Standards | May 25, 2021

International Energy Agency lays out roadmap to net zero

Focus is on energy generation, but building efficiency also plays a role.

Codes and Standards | May 24, 2021

Biden Administration will make new investments in building energy efficiency

Focus on grid-interactive buildings; Energy Star expansion; new targets for energy, water reduction.

Codes and Standards | May 20, 2021

Solar panel trade group issues guidelines to rid use of components built with forced labor

Growing concern that PV industry is dependent on work camps in China.

Codes and Standards | May 19, 2021

Smart electric panels can aid transition to renewable energy

Allow customers better control of circuits; utilities can better manage demand.

Codes and Standards | May 18, 2021

Cross-laminated timber performs better than expected in shear test

Tests conducted in support of new criteria for design of CLT diaphragm.

Codes and Standards | May 17, 2021

Latest Manual on Uniform Traffic Control Devices criticized for not considering bikes, pedestrians

More than a dozen advocacy groups want feds to start over.

Codes and Standards | May 13, 2021

LEED-certified federal buildings don’t use less energy than average

May be due to trade-offs on how score is developed.

Top Articles

Healthcare Facilities

Watch on-demand: Key Trends in the Healthcare Facilities Market for 2024-2025

Market Data

Construction spending expected to rise, despite labor and materials snags

K-12 Schools

A Cleveland suburb opens a $31.7 million new middle school and renovated high school

More In Category

MFPRO+ News

More permits for ADUs than single-family homes issued in San Diego

Popularity of granny flats growing in California

Codes and Standards

New York City code update changes definition of a major building

Changes affecting how construction projects in New York City are permitted will have significant impacts for contractors. On Dec. 11, the definition of a major building in the city’s code will change from 10 stories to seven, or 75 feet. The change will affect thousands more projects.

Government Buildings

GSA adopts new accessibility guidelines for federal properties

The U.S. General Services Administration (GSA) adopted a new rule with new accessibility guidelines for federal buildings. The rule establishes that pedestrian facilities in the public right-of-way are readily accessible to and usable by people with disabilities.

Office Buildings

Office vacancy peak of 22% to 28% forecasted for 2026

The work from home trend will continue to put pressure on the office real estate market, with peak vacancy of between 22% and 28% in 2026, according to a forecast by Moody’s.

Most Popular Content