Considerable investments in domestic semiconductor and electric vehicle (EV) production are driving an unprecedented surge in manufacturing construction — and the effects of the boom can already be seen in the 2024 industrial development pipeline.
So, CommercialSearch’s newest report highlights the markets with the most new industrial supply underway, as well as the largest properties scheduled for delivery this year.
Here are some of key highlights:
- Charlotte ranks 8th for the amount of new industrial space currently under development. Roughly 11.5 million square feet of new industrial space is currently under construction.
- This number translates into 3.7% of Charlotte’s current stock to be added through these new industrial developments.
- The other North Carolina industrial market ranking among those with the largest pipelines this year is Raleigh with 8.1 million square feet under construction representing 7.1% of its current stock.
- At a regional level, there are a total of 5 projects from the Southern region among the top 20 largest industrial deliveries of 2024 – 2 from Georgia, 2 from Texas, and 1 from Florida.
- At a national level, there is currently 463 million square feet of industrial space under construction nationwide, representing 2.4% of current industrial stock.
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