Research

2022 Midwest Industrial Outlook

An in-depth outlook at the 2022 Midwest industrial market. Analysis includes regional findings and local markets overviews.

May 25, 2022

As expected, 2021 was a banner year for industrial markets across the Midwest. Institutional investment has been steadily rising over the last five years, but interest from new players picked up significantly at the start of 2020, leading to a record level of construction in 2021. Tenant demand for new warehouses resulted in absorption outpacing construction completions by 23.5 million s.f., slashing total vacancy in modern bulk* product in all but four markets. As 2022 kicks off, demand levels continue to rise, and another record-setting year appears to be on the horizon.

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