Industrial, warehousing space leasing hits record 59.1 mn sq ft in top 24 cities in Jan-Sep: Savills

Industrial and warehousing space leasing reached a record 59.1 million square feet across 24 cities during the January-September period, according to Savills.

Record leasing volume reported

The 59.1 million-square-foot figure marks the highest leasing level cited for the 24-city market during the period. The result places industrial and warehousing activity at a record level based on Savills' reported data.

The figure covers space leased across the 24 cities between January and September. The available information does not provide a city-by-city breakdown or identify the individual transactions behind the total.

Significance for the property market

The record provides a key measure of demand for industrial and warehousing space across the cities tracked by Savills. It also highlights the scale of leasing activity recorded during the first nine months of the period.

With no further details provided on the sectors, occupiers or locations driving the total, the reported figure remains the central indicator available from the update. Any assessment of the causes, risks or outlook for the market would require additional data.

Key figure

• 59.1 million square feet: Record industrial and warehousing space leasing across 24 cities from January through September.

Savills' report establishes a new record for the tracked market, making the nine-month leasing total the principal takeaway from the data.