• Atlanta: Increased demand from retailers and wholesalers is driving strong leasing and absorption with effective rents reaching a post-recession high at $3.02 PSF/year NNN. Demand in this market sparked 8.9 MSF of new big-box construction during the first half of 2016, compared to 6.1 MSF completed in all of 2015.
  • Chicago: Wholesaler and e-commerce expansions are driving continued increases in big-box construction with 11.7 MSF under way in Q2 2016 to meet the need for modern distribution facilities. 
  • Dallas-Fort Worth: Anticipated activity from the 30 MSF of active tenants in this market will drive new development absorption in the region, which saw 9.5 MSF of big-box space completed in the first half of 2016 versus 9.7 MSF in all of 2015.
  • Greater Los Angeles: A record-breaking 45 big-boxes, totaling 22.8 MSF, were added to the inventory this past year, bringing the total existing big-boxes in this market to 676, totaling 370.4 MSF - by far the most in North America. 
  • New Jersey, Lehigh Valley/Eastern PA: Demand from logistics and e-commerce users propelled this market to emerge as one of the most robust in the country. Big-box leasing activity has more than doubled between Q2 2015 and Q2 2016. During the first half of 2016, a total of 18.4 MSF were leased, the most for a core North American market. 
  • Toronto: Construction activity continues to grow, despite a slow start to 2016. Developers are bullish on this market with just under 6 MSF of big-box space under way.