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Long Island Industrial Market Report

ISLAND CORPORATE SERVICES

Industrial Market Report for Nassau and Suffolk Counties, Long Island

The third quarter 2018 vacancy rate rose from the previous quarter to 3.2%. Flex properties had a vacancy rate of 5.3% compared to the 4.8% vacancy rate of the second quarter 2018. The warehouse vacancy rate at 3.0% rose from the second quarter 2018 at 2.8%. Vacant industrial sublease space increased to 478,606 SF in the third quarter 2018 from 451,915 SF in the second quarter 2018. Vacant sublease space for flex properties increased substantially to 17,442 SF in the third quarter 2018 from 1,100 SF in the second quarter 2018. Vacant warehouse sublease space increased to 461,164 SF in the third quarter 2018 from 450,815 SF in the second quarter 2018. Net absorption for the third quarter finished at negative (329,176) square feet, a decrease from negative (478,930) SF reported in the second quarter 2018. 32,000 SF of new space in one building was completed in the third quarter 2018 with 198,990 SF still under construction. Sales activity for third quarter 2018 currently unavailable.


  

 

Description3rd Q 20174th Q 20171st Q 20182nd Q 20183rd Q 2018Trend
Vacancy Rate3.20%2.90%2.70%3.00%3.20%Up
Net Absorption-347,146504,519129,058-478,930-329,176Up
Vacant Sublease Space290,356233,351258,613451,915478,606Up
Rental Rate (All Industrial)$11.06$11.30$11.45$11.80$11.89Up
Rental Rate (Warehouse)$10.60$10.86$10.93$11.27$11.42Up
Rental Rate (Flex)$14.74$14.52$15.03$15.16$15.29Up
New Construction Delivered81,55200032,000Up
SF of Industrial Inventory165,552,897165,552,897166,522,063 166,233,726Down
# of Industrial Bldg6,6666,6666,703 6,712Up
Sales Activity - $'s$96,380,000 $80,337,000$43,088,800  
Sales Activity - # of Bldg22 1812  
Sales Activity - Total SF826,152 573,923412,753  
Sales Price PSF$116.66 $94.51$104.39  
Data Source - CoStar Group
QuarterYearSorted By Year In Descending OrderProperty TypeMarket Report DescriptionLink
3rd2018IndustrialLong Island Nassau Suffolk Industrial Property Market Report2018 3rd Qtr Industrial.pdf
2nd2018IndustrialLong Island Nassau Suffolk Industrial Property Market Report2018 2nd Qtr Industrial.pdf
1st2018IndustrialLong Island Nassau Suffolk Industrial Property Market Report2018 1st Qtr Industrial.pdf
4th2017IndustrialLong Island Nassau Suffolk Industrial Property Market Report2017 4th Qtr Industrial.pdf
3rd2017IndustrialLong Island Nassau Suffolk Industrial Property Market Report2017 3rd Qtr Industrial.pdf
2nd2017IndustrialLong Island Nassau Suffolk Industrial Property Market Report2017 2nd Qtr Industrial.pdf
1st2017IndustrialLong Island Nassau Suffolk Industrial Property Market Report2017 1st Qtr Industrial.pdf
4th2016IndustrialLong Island Nassau Suffolk Industrial Property Market Report2016_4th_Qtr_Industrial.PDF
3rd2016IndustrialLong Island Nassau Suffolk Industrial Property Market Report2016_3rd_Qtr_Industrial.PDF
2nd2016IndustrialLong Island Nassau Suffolk Industrial Property Market Report2016_2nd_Qtr_Industrial.PDF
1st2016IndustrialLong Island Nassau Suffolk Industrial Property Market Report2016_1st_Qtr_Industrial.pdf
4th2015IndustrialLong Island Nassau Suffolk Industrial Property Market Report2015_1st_Qtr_Industrial_Market_Report.pdf
3rd2015IndustrialLong Island Nassau Suffolk Industrial Property Market Report2015_2nd_Qtr_Industrial.pdf
2nd2015IndustrialLong Island Nassau Suffolk Industrial Property Market Report2015_2nd_Qtr_Industrial.pdf
1st2015IndustrialLong Island Nassau Suffolk Industrial Property Market Report2015 4th Qtr Industrial.pdf
4th2014IndustrialLong Island Nassau Suffolk Industrial Property Market Report2014_CBCICS_4th_Qtr_Ind_Market_Report.pdf
3rd2014IndustrialLong Island Nassau Suffolk Industrial Property Market Report2014_3rd_Qtr_Industrial_Market_Report.pdf
2nd2014IndustrialLong Island Nassau Suffolk Industrial Property Market Report2014_2nd_Qtr_Industrial_Market_Report.pdf
1st2014IndustrialLong Island Nassau Suffolk Industrial Property Market Report2014_1st_Qtr_Industrial_Market_Report.pdf
4th2013IndustrialLong Island Nassau Suffolk Industrial Property Market Report2013_4th_Qtr_Industrial_Market_Report.pdf
3rd2013IndustrialLong Island Nassau Suffolk Industrial Property Market Report2013_CBCICS_3rd_Qtr_Industrial_Market_Report.pdf
2nd2013IndustrialLong Island Nassau Suffolk Industrial Property Market Report2013_2nd_Qtr_Industrial_Market_Report.pdf
1st2013IndustrialLong Island Nassau Suffolk Industrial Property Market Report2013_1st_Qtr_Industrial_Market_Report.pdf
4th2012IndustrialLong Island Nassau Suffolk Industrial Property Market Report2012_4th_Qtr_Industrial_Market_Report.pdf
3rd2012IndustrialLong Island Nassau Suffolk Industrial Property Market Report2012 3rd Qtr Industrial Market Report.pdf
2nd2012IndustrialLong Island Nassau Suffolk Industrial Property Market Report2012 2nd Qtr IndustrialMarket Report.pdf
1st2012IndustrialLong Island Nassau Suffolk Industrial Property Market Report2012_1st_Qtr_Industrial_Market_Report.pdf

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