๐๐๐ฌ๐ฌ ๐ญ๐ข๐ฆ๐๐๐ซ ๐ฉ๐๐ง๐๐ญ๐ซ๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐ฅ๐จ๐ ๐ข๐ฌ๐ญ๐ข๐๐ฌ/๐ฐ๐๐ซ๐๐ก๐จ๐ฎ๐ฌ๐ ๐๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ข๐จ๐ง ๐ซ๐๐ฆ๐๐ข๐ง๐ฌ ๐ฏ๐๐ซ๐ฒ ๐ฌ๐ฆ๐๐ฅ๐ฅ.
๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐๐ ๐๐๐๐!
As of early 2026, there is roughly 250 million to 470+ million square feet of industrial warehouse space that is actively under construction across the United States. That is thousands of individual projects in some stage of active construction. Estimated to be around $175B~$225B annually.
๐๐ ๐ฒ๐จ๐ฎ ๐ข๐ง๐๐ฅ๐ฎ๐๐ ๐ญ๐ก๐ ๐ฉ๐ซ๐จ๐ฃ๐๐๐ญ๐ฌ ๐ญ๐ก๐๐ญ ๐๐ซ๐ ๐ข๐ง ๐๐ง๐ญ๐ข๐ญ๐ฅ๐๐ฆ๐๐ง๐ญ, ๐ฉ๐ฅ๐๐ง๐ง๐ข๐ง๐ , ๐ฉ๐ซ๐๐ฅ๐๐๐ฌ๐ข๐ง๐ , ๐จ๐ซ ๐๐ง๐ง๐จ๐ฎ๐ง๐๐๐ ๐ฉ๐ข๐ฉ๐๐ฅ๐ข๐ง๐ ๐ฌ๐ญ๐๐ญ๐๐ฌ, ๐ญ๐ก๐ ๐ง๐ฎ๐ฆ๐๐๐ซ ๐๐๐๐จ๐ฆ๐๐ฌ ๐ฌ๐ฎ๐๐ฌ๐ญ๐๐ง๐ญ๐ข๐๐ฅ๐ฅ๐ฒ ๐ฅ๐๐ซ๐ ๐๐ซ!
Estimates vary so much in the amount of square feet under construction, because there are different firms out there tracking different things, such as DLL, Newmark, NAIOP, and others.
๐๐ฉ๐บ ๐ต๐ฉ๐ฆ ๐ฅ๐ช๐ด๐ค๐ณ๐ฆ๐ฑ๐ข๐ฏ๐ค๐ช๐ฆ๐ด:
โข inclusion/exclusion of manufacturing
โข flex industrial
โข data centers
โข owner-occupied facilities
โข speculative vs committed projects
โข timing differences
๐๐ข๐ณ๐จ๐ฆ ๐ช๐ฏ๐ฅ๐ถ๐ด๐ต๐ณ๐ช๐ข๐ญ ๐ธ๐ข๐ณ๐ฆ๐ฉ๐ฐ๐ถ๐ด๐ฆ๐ด ๐ต๐ฐ๐ฅ๐ข๐บ ๐ข๐ณ๐ฆ ๐ฐ๐ง๐ต๐ฆ๐ฏ:
โข 250k sq ft
โข 500k sq ft
โข 1M+ sq ft
๐๐ด๐ช๐ฏ๐จ ๐ณ๐ฐ๐ถ๐จ๐ฉ ๐ข๐ท๐ฆ๐ณ๐ข๐จ๐ฆ๐ด:
Average Project Sizeย ย ย Pipeline Implies
250k sq ftย ย ย ย ย ย ย ย ย ย ย ย ~1,000 – 1,800 projects
500k sq ftย ย ย ย ย ย ย ย ย ย ย ย ~500 – 900 projects
1M sq ftย ย ย ย ย ย ย ย ย ย ย ย ย ย ~250 – 450 mega-projects
The market has cooled from the peak of 2021~2022.
At the peak, the US had roughly 1 billion sq ft of industrial space under development.
๐๐ฐ๐ธ:
โข the pipeline has contracted sharply
โข speculative development slowed
โข but build-to-suit and strategically located projects remain strong
๐๐ข๐ ๐ ๐๐ฌ๐ญ ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ ๐๐ซ๐:
1. E-commerce
โข Still the dominant structural force
โข E-commerce uses more warehouse space than traditional retail
2. Supply-chain reshoring
๐๐ฐ๐ฎ๐ฑ๐ข๐ฏ๐ช๐ฆ๐ด ๐ข๐ณ๐ฆ:
โข regionalizing inventory
โข increasing safety stock
โข building inland logistics hubs
โข diversifying away from coastal concentration
3. Build-to-suit facilities
๐๐ข๐ณ๐จ๐ฆ ๐ฐ๐ค๐ค๐ถ๐ฑ๐ช๐ฆ๐ณ๐ด ๐ด๐ต๐ช๐ญ๐ญ ๐ธ๐ข๐ฏ๐ต:
โข customized automation
โข robotics integration
โข cold storage
โข specialized distribution systems
๐๐ก๐ ๐ก๐จ๐ญ๐ญ๐๐ฌ๐ญ ๐ฐ๐๐ซ๐๐ก๐จ๐ฎ๐ฌ๐ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ ๐ซ๐๐ ๐ข๐จ๐ง๐ฌ ๐ซ๐๐ฆ๐๐ข๐ง:
โข DallasโFort Worth
โข Phoenix
โข Atlanta
โข Inland Empire (CA)
โข Houston
โข Indianapolis
โข Columbus
โข Kansas City
โข Central Pennsylvania
โข Savannah corridor
๐๐ฐ๐ด๐ต ๐ฐ๐ง ๐ต๐ฉ๐ฆ๐ด๐ฆ ๐ฑ๐ณ๐ฐ๐ซ๐ฆ๐ค๐ต๐ด ๐ข๐ณ๐ฆ ๐ด๐ต๐ช๐ญ๐ญ:
โข conventional steel
โข tilt-up concrete
โข PEMB systems
๐๐ฏ๐๐ง ๐ฐ๐ข๐ญ๐ก ๐๐๐ฌ๐ฌ ๐๐ข๐ฆ๐๐๐ซ ๐๐๐ฉ๐ญ๐ฎ๐ซ๐ข๐ง๐ 1โ3% ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ฆ๐๐ซ๐ค๐๐ญ, ๐ข๐ญ ๐ฐ๐จ๐ฎ๐ฅ๐ ๐ซ๐๐ฉ๐ซ๐๐ฌ๐๐ง๐ญ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง๐ฌ ๐จ๐ ๐ฌ๐ช๐ฎ๐๐ซ๐ ๐๐๐๐ญ ๐๐ง๐ง๐ฎ๐๐ฅ๐ฅ๐ฒ.
