Demand for industrial product intensifies as construction volume set a new record, according to Transwestern’s first quarter U.S. Industrial Market Report. Product under construction soared to 800 million square feet, up nearly 250 million square feet from a year prior and 66 percent higher than pre-pandemic levels. The Sun Belt continues to experience striking amounts of growth with Savannah, Ga.; Charleston, S.C.; and Phoenix all reporting under construction stock exceeding 10 percent of total inventory.
“The magnitude of product under construction nationwide underscores the unsatiable demand for industrial re
