INDUSTRIAL FLEX REPORT – Q3 2024

The square footage under construction for flex/industrial properties under 50K SF has continued to decline quarter over quarter with 150K SF under construction as of Q3 2024 as opposed to 183K SF the previous period. Q3 2024 also saw our 12 month average for delivered square footage drop with 211,824 SF in Q3 2024 versus 248,347 in Q2. As new inventory drops, we can see the average price per SF continue to grow since competition is decreasing with the average asking rate sitting at $13.58/SF.

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