Madison Industrial MarketView H2 2021

‒The vacancy rate decreased 30 basis points (bps) from H1 2021 to 2.4%, and the availability rate decreased 30 bps to 3.1% while the average asking lease rate increased slightly to $5.13. The vacancy rate closed at its lowest point during the past three years.  

‒Year-over-year, the vacancy rate decreased 230 bps and availability decreased 160 bps, while the average asking lease rate decreased $0.28.

‒The market positively absorbed 284,210 sq. ft. of space during H2 2021. Total net absorption for 2021 was positive 108,415 sq. ft.

‒There was a total of approximately 426,000 sq. ft. of projects completed in 2021 compared to approximately 425,000 sq. ft. in 2020.

‒Investment sales accounted for approximately $108.0 million of sales volume in H2 2021.