Midwest U.S. Industrial Figures Q3 2026

‒Q3 2026 net absorption was 16.2 million sq. ft. showing continued growth.
‒The Midwest continued steady construction activity in Q3 with 62.1 million sq. ft. underway. 45.1% of current construction underway is already leased. 9.9 million sq. ft. delivered in Q3 2026.
‒Under construction activity increased by 9.7 million sq. ft. quarter-over-quarter due to an increase in projects breaking ground.
‒The Midwest markets posted 53.0 million sq. ft. of industrial leasing activity in Q3 2026, 67.8% of which was new leasing activity.
–The Midwest average vacancy rate decreased quarter-over-quarter (5.0% to 4.9%).
–The overall asking lease rate for the Midwest decreased quarter-over-quarter ($7.65 per sq. ft. to $7.44 per sq. ft.).