Demand drivers

JLL attributes new warehouse demand to AI data centre construction, with suppliers and infrastructure providers clustering near hyperscale campuses, notably around Dallas/Fort Worth and Washington, DC [1].

Rent trajectory

Average asking rents climbed to US$10.55 per square foot, a 3.2% annual increase and the fastest pace since mid-2024, measured on triple-net leases [1].

Tenant mix shifts

The brokerage says construction, telecommunications and utilities tenants are accounting for a larger share of demand, altering both tenant composition and where industrial space is sought [1].