Midwest U.S. Industrial Figures Q1 2026

‒ Q1 2026 net absorption was 19.4 million sq. ft. showing continued growth.
‒ The Midwest continued steady construction activity in Q1 with 46.1 million sq. ft. underway. 61.2% of current construction underway is already leased. 11.6 million sq. ft. delivered in Q1 2026.
‒ Under construction activity increased by 0.8 million sq. ft. quarter-over-quarter due to an increase in projects breaking ground.
‒ The Midwest markets posted 44.0 million sq. ft. of industrial leasing activity in Q1 2026, 64.5% of which was new leasing activity.
– The Midwest average vacancy rate decreased quarter-over-quarter (5.4% to 5.1%).
– The overall asking lease rate for the Midwest increased quarter-over-quarter ($7.23 per sq. ft. to $7.46 per sq. ft.).