NYC Outer Boroughs Industrial Figures Q3 2026

Leasing activity totaled 801,000 sq. ft., up 109% quarter-over-quarter and 26% above the three-year quarterly average. Overall vacancy held steady at 7.8%, while demand for higher-quality product contributed to a 250 basis point (bps) decline in the Class A availability rate to 28.3%. Overall average asking rent declined 1.0% quarter-over-quarter and 10.0% year-over-year to $28.26 per sq. ft., while Class A asking rents remained unchanged at $30.38 per sq. ft. Construction activity stayed limited, with 191,000 sq. ft. under construction across two properties and no new deliveries, keeping near-term supply pressure contained.