Skip to main content Skip to footer

Q2 2022 Long Island Industrial Market Report

Download Report
LI Industrial Market Report SiteCore Header

Long Island’s industrial market remains particularly robust, but e-commerce demand has subsided somewhat, and the market experienced 275,022 SF of negative absorption as occupiers re-evaluated their space requirements. 

During the second quarter, there was also a slight decline in leasing activity, but well above pandemic lows. The availability rate also increased 20 basis points quarter-to-quarter to 3.3%. Long Island’s average asking rent continued to increase as demand persists, and is now 2.59% higher than the first quarter, with an average asking rate of $14.64/SF.

Unfortunately, due to labor shortages and supply chain disruptions, construction pipelines have been delayed. During the second quarter, zero properties were delivered as completion timelines have been extended. There are currently nine properties under construction totally 1.58 MSF, and twenty-nine totaling 5.02 MSF are proposed for the market.

 

LI Industrial Market Report SiteCore Thumbnails

Q2 2022 Long Island Industrial Market Report

Download Report
Related Experts

Lars Remole

Research Analyst

Stamford

Responsible for providing research and analytical services for all the brokers in the Fairfield/Westchester County and Long Island markets to ensure appropriate positioning, informed actions, strategic targeting, and smart decision-making.

Collect and analyze market information and economic events.

Produce market publications, research papers, requests for proposals, and ad hoc reports.

View expert