Figures

Q4 2022 New York City Industrial Figures

January 18, 2023

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  • Fourth quarter leasing velocity was 1.5 million sq. ft., a quarter-over-quarter increase of 106% and 32% higher than the three-year average.
  • The availability rate for all asset classes increased 10 bps quarter-over-quarter to 6.8%.
  • The Class A availability rate decreased 120 bps to 6.3%
  • Year-over-year, the average asking rent citywide for all asset classes increased by 12% to $25.06 per sq. ft.
  • Ten properties totaling nearly 5.6 million sq. ft. are under construction, and two properties totaling 1.1 million sq. ft. were delivered this quarter.