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Q3 2021 Long Island Industrial Market Report

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Long Island’s industrial market continued to benefit from a shift in consumer buying habits that caused pricing and demand to increase during 2021. As the market contends with a dearth of available space, it has managed to post 1.5 million square feet (MSF) of positive net absorption year-to-date.

Long Island’s average asking rent continues to increase unabated, and is now 14% higher than a year ago, with an average asking rate of $14.17/SF.

As tenant demand continues to increase, developers have accelerated their construction pipeline with the market currently having seven properties under construction totaling 1.7 MSF.