Midwest U.S. Industrial Figures Q2 2026

‒ Q2 2026 net absorption was 24.3 million sq. ft. showing continued growth.
‒ The Midwest continued steady construction activity in Q2 with 52.4 million sq. ft. underway. 49.8% of current construction underway is already leased. 12.8 million sq. ft. delivered in Q2 2026.
‒ Under construction activity increased by 6.3 million sq. ft. quarter-over-quarter due to an increase in projects breaking ground.
‒ The Midwest markets posted 58.0 million sq. ft. of industrial leasing activity in Q2 2026, 70.0% of which was new leasing activity.
– The Midwest average vacancy rate decreased quarter-over-quarter (5.1% to 5.0%).
– The overall asking lease rate for the Midwest increased quarter-over-quarter ($7.46 per sq. ft. to $7.65 per sq. ft.).