Midwest U.S. Industrial Figures Q2 2025

‒ Q2 2025 net absorption was 10.8 million sq. ft. showing continued growth.
‒ The Midwest continued steady construction activity in Q2 with 39.7 million sq. ft. underway. 63.7% of current construction underway is already leased. 10.0 million sq. ft. delivered in Q2 2025.
‒ Under construction activity increased by 0.9 million sq. ft. quarter-over-quarter as new projects broke ground.
‒ The Midwest markets posted 33.2 million sq. ft. of industrial leasing activity in Q2 2025, 68.8% of which was new leasing activity.
– Vacancy rates increased 10 basis points (bps) quarter-over-quarter, finishing with an average rate of 5.5% in Q2 2025.
– Asking lease rates increased 1.1% quarter-over-quarter ($7.14 per sq. ft. to $7.22 per sq. ft.).