Industrial and logistics real estate vacancy rate in the U.S. 2024, by market
Among the 30 markets with the largest inventory of industrial and logistics real estate, Orange County, CA had the lowest vacancy rate of one percent in the first quarter of 2024. Chicago, IL, the largest market by total inventory, ranked 13th, with 4.6 percent of industrial and logistics real estate vacant. Phoenix, AZ, was the market with the highest rate at almost 11 percent. Overall, the share of vacant industrial and logistics properties has increased since 2022.