Future Cities
Insights by Market
2024 North America Industrial Big-Box Review & Outlook
April 29, 2024 5 Minute Read
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Atlanta is the major population center of the Southeast and one of the country’s fastest-growing metropolitan statistical areas (MSAs).
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More than 18 million people—23% aged 18-34—live within 100 miles of the market’s core, with a 1.6% projected five-year growth rate.
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Over 4 million people live within 50 miles of the market’s core, with a 5% expected five-year growth rate—the second-highest of any region in the Southeast.
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Central Valley’s proximity to the affluent Bay Area gives it convenient access to more than 5.3 million people within 50 miles of the market’s core.
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Over 9 million people live within 50 miles of the market’s core, which is expected to decline by 0.7% by 2028.
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Cincinnati’s central location makes it ideal for big-box occupiers.
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More than 2.6 million people live within 50 miles of the market’s core, with a projected five-year growth rate of 1.8%.
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Nearly 8 million people live within 50 miles of the market’s core—nearly a quarter aged 18-34—with 6.9% projected growth over the next five years.
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More than 7 million people live within 50 miles of the market’s core–a quarter aged 18-34–with five-year growth of 5.3% expected, third to only Dallas-Ft. Worth and Nashville.
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Over 2.6 million people live within 50 miles of the market’s core, with a 1.9% expected five-year growth rate.
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Around 11.9 million people live within 50 miles of the market’s core, the third-most of any U.S. market in this report, with a projected 0.4% five-year growth rate.
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Kansas City’s biggest draw is its easy reach to a large portion of the country.
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Over 15 million people live within 50 miles of the market’s core—the second-largest population of any U.S. market in this report, with a flat expected five-year growth rate.
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Nearly 30 million people—24% aged 18-34—live within 250 miles of downtown Louisville.
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Over 1.4 million people–23% aged 18-34–live within 50 miles of downtown Memphis.
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Mexico City is the world’s fourth-largest city, with 30 million people living within 50 miles of its core.
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More than 5 million people live within 50 miles of the market’s core, with an expected five-year growth rate of 5.9%.
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Just over 2.4 million people live within 50 miles of the market’s core, with a projected five-year growth rate of 6.4%, the second-highest of all U.S. markets in this report.
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The Northern/Central New Jersey market serves the U.S.’s largest population within a 50-, 100- and 250-mile radius.
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Phoenix has been one of the country’s fastest-growing metros.
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More than 4.8 million people live within 50 miles of the market’s core, with a projected 2.9% five-year growth rate.
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While Savannah does not have a large nearby population, 25 million people or 10 million households live within 250 miles of the market’s core, with a 2.9% projected five-year growth rate.
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Over 8 million people live within 50 miles of the market’s core, and 60 million are within 250 miles.
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Nearly 3 million people live within 50 miles of the market’s core but, like many Midwest markets, this is expected to decline by 0.2% over the next five years.
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Around 9 million people live within 50 miles of the market’s core, the highest population concentration in Canada.
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An industrial big-box facility is a traditional warehouse or distribution center of at least 200,000 sq. ft.
Industrial & Logistics Research
John Morris
President, Americas Industrial & Logistics, Advisory Services
Contributors
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Today’s big-box industrial occupiers are prioritizing future workforce needs in their site selection analysis, rather than just focusing on the current economic and talent conditions.
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Nashville is a key industrial market because most of the U.S. population is accessible by two-day ground delivery.
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Brief | Intelligent Investment
Higher Vacancy & Interest Rates Contribute to Less Industrial Construction
March 14, 2024
Average quarterly industrial construction starts are expected to drop to less than 50 million sq. ft. this year from more than 100 million sq. ft. in 2022 due to high interest rates, a less robust lending environment and lower demand from occupiers.
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Third-party logistics (3PL) warehouse operators strengthen supply chain resiliency through a range of fulfillment and storage solutions.
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