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CT Has Nation’s Tightest Industrial Market

By James Sanna | October 31, 2024 | Reprints | Unlock Link | Print

iStock photo illustration

A new report says the Bridgeport area has reclaimed its position as the tightest industrial market nation-wide.

CommercialEdge, a part of Yardi Matrix, said the area had an industrial vacancy rate of just 3.8 percent in September.

The average per-square-foot rent for leases signed last month was $9.35, the company said, and $13.73 for the last 12 months.

That’s comparable to the rest of Connecticut’s market in the second quarter, according to Cushman & Wakefield research. The brokerage reported the Central Connecticut market had a 3.8 percent vacancy rate as of June, with the overall net rent sitting at $7.48 per square foot.

Brokerage Newmark reported the direct asking rent in Fairfield County was $12.77 per square foot in the second quarter, with over 96,000 square feet of positive absorption in the first half of the year.

Neither brokerage has yet released third-quarter research covering Connecticut.