Industrial development is taking place in many different parts of America at this time. Take a look at five cities with industrial markets that are expanding by leaps and bounds at the moment below.
Inland Empire, California
Inland Empire, which is considered to be the busiest east-west transit hub in the region, is experiencing more industrial growth than any other place in the U.S. There is more than 32 million square feet of industrial space that is either finished or currently being constructed in Inland Empire. Direct vacancy is currently hovering at around 3 percent, and you can expect to pay about $6.30 per square foot in rent in the area.
Dallas-Fort Worth
As the Dallas-Fort Worth area continues to grow, so does its industrial development. There are currently plans to add about 21 million square feet of industrial space to the local market once current construction jobs are completed. The direct vacancy in the warehouse space available in the area is a shade over 6 percent, and you will pay about $4.50 per square foot in rental fees for it.
Pennsylvania Corridor
The areas surrounding the I-78 and I-81 corridor are experiencing historic growth as far as industrial development is concerned. Industrial developers have added more than 14 million square feet of industrial space over the last five years. Direct vacancy is hovering at around 5 percent right now, and you will find rent to be right around $4.40 per square foot in the Pennsylvania Corridor.
California Central Valley
Located smack dab in the middle of where most of California’s agricultural production takes place, the California Central Valley is currently working to add almost 10 million square feet of new warehouse space. They only have a direct vacancy of about 1.8 percent, which has caused rents to rise recently. You will pay almost $4.60 per square foot in rental fees right now, which is up almost 25 cents in the last year.
Los Angeles
The city of Los Angeles might be known for making movies, but it’s also making room for plenty of warehouses. While other parts of California are seeing more growth in the industrial space than Los
Angeles, the city isn’t far behind them and will be producing more than just action-packed blockbusters and must-see TV in the coming years.
Affiliated Warehouse Companies currently represents warehouses in all five of these industrial areas and can help you find a vacancy if you are interested. Call us at 732-739-2323 today to find the warehouse you want.
