US industrial new lease count index returns to record peak, CoStar says
CSGP•The U.S. industrial new lease count index returned to its historical peak, while the renewal index declined. Leases of at least 200,000 square feet recovered to 92% of peak, and Dallas-Fort Worth led market recoveries at 97%.
1. Leasing recovery varies
The U.S. industrial new lease count index returned to its historical peak, while the renewal index declined. Leasing for spaces of at least 200,000 square feet recovered to 92% of peak; the 50,000–199,999-square-foot segment reached about 90%.
2. Markets diverge
Dallas-Fort Worth led recovery at 97% of peak across size bands, followed by Austin at 95%. St. Louis, East Bay and Cincinnati averaged 53–59% of peak, the weakest performance among the top 50 markets. New leasing does not translate directly into net absorption, as relocations and weaker renewals can leave vacant space.
