U.S. industrial demand accelerated in third quarter 2026, outpacing new supply for the second consecutive quarter and pushing vacancy further below its recent peak, according to new research from Cushman & Wakefield.
Net absorption reached 76.6 million square feet in the third quarter, its strongest quarterly total since first quarter 2023 and the second consecutive quarter above 70 million square feet. Year-to-date absorption surpassed 203 million square feet, marking the market’s strongest nine-month stretch since late 2022.
“Demand has now outpaced new supply for two consecutive quarters, and we’re seeing that translate into lower vacancy, stronger leasing activity and renewed development momentum,” said Jason Price, head of Americas logistics and industrial research at Cushman & Wakefield. “Newer, highly functional facilities continue to capture the majority of demand, although tightening availability is beginning to create some spillover into old
