• The Northeast Industrial asking rents increased by $0.65 from Q1 2021 to Q2 2021.
  • Vacancy levels dropped by 6 bps, and available inventory is at an all time low
  • Space under construction grew by 13 million square feet; construction completions delayed due to cost and slowed delivery of materials
  • Class A asking rents grew by more than $1 PSF in most NE markets
  • E-Commerce continues to be a driver of demand; 3PL companies comprised the largest share of leasing activity in Q2.