2014 Q4 North American Industrial Highlights

by CoyDavidson on March 27, 2015

modern storehouse

Cyclical and Structural Factors Driving Market Growth

The 2014 Q4 North America Industrial Highlights presents a comprehensive overview of the industrial market segment of commercial real estate. Various cyclical and structural factors are driving industrial market growth in 2015, with the overall North American vacancy rate having decreased in Q4 2014. The U.S. industrial vacancy rate fell to its lowest level in more than 10 years with all regions reporting occupancy gains.

Key takeaways from this report include:

  • The North American vacancy rate decreased in Q4 2014 by 22 basis points (bps) to 6.8 percent.
  • Net absorption was robust at 70.7 million square feet (MSF) in Q4 2014, an increase of 5.9 MSF over Q3 2014.
  • The ongoing strength of the market has induced an increase in development. Construction volume accelerated in both the U.S. and Canada during the quarter, totaling 178.2 MSF, up 50 percent from one year earlier.
  • Although a tentative five-year contract agreement was reached between West Coast dockworkers and ship and port owners in late February, clearing the backlog of imports and returning to the normal pace of trade flow is expected to take several more months.
  • The strength of the industrial market has prompted robust investor activity.
  • A wide swath of industrial economic indicators posted strong results through Q4 2014 and early 2015.

You can download and view the full report here.

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