flexiblefullpage -
billboard - default
interstitial1 - interstitial
catfish1 - bottom
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

| Sep 19, 2022

New York City construction site inspections, enforcement found ‘inadequate’

A new report by the New York State Comptroller found that New York City construction site inspections and regulation enforcement need improvement.

| Sep 16, 2022

Fairfax County, Va., considers impactful code change to reduce flood risk

Fairfax County, Va., in the Washington, D.C., metro region is considering a major code change to reduce the risk from floods.

| Sep 13, 2022

California building codes now allow high-rise mass-timber buildings

California recently enacted new building codes that allow for high-rise mass-timber buildings to be constructed in the state.

| Sep 8, 2022

U.S. construction costs expected to rise 14% year over year by close of 2022

Coldwell Banker Richard Ellis (CBRE) is forecasting a 14.1% year-on-year increase in U.S. construction costs by the close of 2022.

| Aug 29, 2022

Montana becomes first U.S. state to approve 3D printing in construction

Montana is the first U.S. state to give broad regulatory approval for 3D printing in building construction.

| Aug 25, 2022

New York City’s congestion pricing aims to reduce traffic, cut carbon

Officials recently released an environmental assessment that analyzes seven different possible pricing schemes for New York City’s congestion pricing program.

| Aug 23, 2022

New Mass. climate and energy law allows local bans on fossil fuel-powered appliances

A sweeping Massachusetts climate and energy bill recently signed into law by Republican governor Charlie Baker allows local bans on fossil fuel-powered appliances.

| Aug 22, 2022

Gainesville, Fla., lawmakers moved to end single-family zoning

The Gainesville City Commission recently voted to advance zoning changes that would allow duplexes, triplexes, and quadplexes to be built on land currently zoned for single-family homes.

| Aug 16, 2022

DOE funds 18 projects developing tech to enable buildings to store carbon

The Department of Energy announced $39 million in awards for 18 projects that are developing technologies to transform buildings into net carbon storage structures.

| Aug 11, 2022

Report examines supposed conflict between good design and effective cost management

A report by the American Institute of Architects and the Associated General Contractors of America takes a look at the supposed conflict between good design and effective cost management, and why it causes friction between architects and contractors.

boombox1 - default
boombox2 -
native1 -

More In Category


MFPRO+ News

ENERGY STAR NextGen Certification for New Homes and Apartments launched

The U.S. Environmental Protection Agency recently launched ENERGY STAR NextGen Certified Homes and Apartments, a voluntary certification program for new residential buildings. The program will increase national energy and emissions savings by accelerating the building industry’s adoption of advanced, energy-efficient technologies, according to an EPA news release. 



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