Another record-breaking quarter for industrial
The U.S. industrial market ended the third quarter of 2021 with record-setting statistics and demand outpacing supply for the third quarter in a row. In fact, the market absorbed 140.7 million square feet in third quarter 2021 — the most space ever absorbed in a single quarter of any year reported by Cushman & Wakefield, breaking the previous record from last quarter (126.4 million square feet). This brought the year-to-date 2021 absorption total to 365.9 million square feet, 98 percent above the same period in 2020, and the most absorption ever recorded in a single year, with another quarter still to come.
Warehouse/distribution space proved once again to be the strongest secondary property type with 338.9 million square feet of net absorption year-to-date. Of the 81 industrial markets tracked by Cushman & Wakefield, 55 markets have seen more than 1 million square feet of positive net absorption and 25 markets have seen more than 5 million square feet positive abso