Industrial Lease and Vacancy Rates & Serviced Land Cost by Industrial Area (Q1)
Category Southeast  Northwest Northeast Central
  2017 2018 2017 2018 2017 2018 2017 2018
0 - 5,000 sq. ft. $12.50 $10.38 $11.75 12.38 $10.75 $10.80 N/A N/A
5001 - 10,000 sq. ft. $11.25 $11.00 $10.00 10.38 $9.50 $9.50 N/A N/A
10,001 - 20,000 sq. ft.  $10.00 $9.88 $9.50 9.00 $9.25 $9.25 N/A N/A
20,001 - 50,000 sq. ft. $9.25 $9.25 $8.50 8.75 $8.75 $8.75 N/A N/A
50,000+ sq. ft.  $8.38 7.75 $7.63 7.25 $7.5 $7.25 N/A N/A
Inventory (sq. ft.) 53,378,870 53,702,033 58,242,578 60,330,930 6,531,182 6,544,907 3,738,414 3,738,414
Vacancy (sq. ft.) 3,860,074 3,996,095 3,351,811 3,520,285 118,097 45,157 70,847 122,686
Vacancy Rate (%) 7.2 7.4 5.8 5.8 1.8 0.7 1.9 3.3
Serviced Land Cost ($/acre) 700,000 675,000 650,000 650,000 525,000 587,500 N/A N/A
Source: AvisonYoung

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