U.S. industrial leasing activity reached a four-year high in third quarter 2026 as demand tied to artificial intelligence and digital infrastructure development continued to expand, according to JLL’s “Q3 Industrial Market Dynamics Report.”
Leasing volume totaled 202.6 million square feet, an increase of 38.5 percent year over year and 15.3 percent quarter over quarter. Year-to-date leasing reached 523.5 million square feet, representing 98.2 percent of the total volume recorded in 2025.
Demand from industries supporting digital infrastructure development also increased. Construction materials and building fixtures accounted for 14.7 percent of leasing volume, up from 10.8 percent a year earlier, while communications and technology increased to 7.5 percent from 4.5 percent. Energy and utilities leasing rose to 4.6 percent from 2.3 percent.
Vacancy among class A industrial facilities larger than 1 million square feet declined to 5.4 percent from 9.5 percent
