CBRE|Triad has released its Q4 2020 Industrial MarketView report for the Triad market. The industrial market closed out the year with record high annual absorption at a total of 2,757,000 square feet. This absorption has continued to decrease vacancy of industrial product to 4.8 percent and created a healthy average rental rate of $4.50 per square foot.
The Triad’s record setting annual absorption in 2020 had a large contribution during the fourth quarter, ending with 489,583 square feet of positive absorption. As the demand for industrial space continues to grow, the market is seeing early signs of strong absorption continuing in early 2021.
“The Triad market continues to remain healthy despite the pandemic largely due to the demand for e-commerce and distribution space,” said Managing Director of Industrial Services Dodson Schenck. “We are seeing this demand continue into 2021 with an anticipated tightening of vacancy rates, increased asking rates and continued positive absorption.”
The CBRE|Triad Industrial MarketView highlights flex and warehouse vacancy rates, lease rates and net absorption for the overall Triad market, as well as individual submarkets in the Triad. The report provides information on vacancy compared to lease rates, as well as unemployment statistics.The MarketView also highlights top lease transactions from the quarter.
CBRE|Triad is a CBRE affiliate office serving the Triad Region. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. The local office closed more than $256 million in sales and leasing transactions in 2019. For more information about the Triad office, visit our website, www.cbre.us/triad.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.us.