Long Island Industrial Figures Q3 2026

Leasing activity moderated to 815,000 sq. ft. in Q3 from 1.6 million sq. ft. in the previous quarter. Net absorption remained positive at 66,000 sq. ft., representing the second consecutive quarter of occupancy gains and bringing year-to-date absorption to 715,000 sq. ft. At 7.0%, vacancy was unchanged during the quarter and remained below the peak level recorded earlier in 2026. Development activity remained active but more measured than in prior years, with 70,000 sq. ft. delivered during the quarter and 1.78 million sq. ft. under construction. With supply and demand moving into better balance, average asking rents remained stable at $18.79 per sq. ft