CBRE|Hubbell Commercial recently released its 2022 third-quarter industrial report. Highlights include:
• The vacancy rate for modern bulk and distribution space is 5.29%; warehouse and distribution space 3.35%, flexible space is 2.26%, and manufacturing 1.99%.
• About 2.9 million square feet of industrial space is under construction in the Des Moines area. About 47% of the new construction is occurring in the northeast submarket.
• Flexible warehouse space leased for an average of $8.08 a square foot, up 2.2% from the first quarter when the average lease rate was $7.90.
To read the entire report, click here.