Demand Surges as Availability Shrinks
The industrial market continued to tighten in H1 2025, with vacancy declining to 10.1% and all submarkets posting positive absorption. Leasing activity remains strong, led by major commitments from Lanter Delivery Systems (49,000 SF) and Priority Express (33,000 SF). With space scarce, especially in the West Submarket (vacancy just 1.6%), new speculative developments are on the horizon. Major investments such as the Ultium Cells battery plant and Neogen’s research campus are helping to anchor long-term industrial growth.