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Long Island Industrial Market Report

ISLAND CORPORATE SERVICES

Industrial Market Report for Nassau and Suffolk Counties, Long Island

The fourth quarter 2016 vacancy rate dropped slightly from the two previous quarters to 2.9%.  Flex properties had a vacancy rate of 5.3% which is a significant increase from the 4.5% vacancy rate of the third quarter 2016.  The warehouse vacancy rate decreased  to  2.7% at the end of the third and fourth quarters in 2016, compared to 2.8% at the end of the second quarter 2016. Vacant industrial sublease space increased to 284,888 SF in the fourth quarter 2016 up from 170,760 SF in the third quarter 2016. Vacant sublease space for flex properties increased to 21,106 SF in the fourth quarter 2016 up from no vacant flex sublease space in the third quarter 2016. Vacant warehouse sublease space increased to 263,762 SF in the fourth quarter 2016 up from 170,760 SF in the third quarter 2016. Net absorption for the fourth quarter was negative, finishing at (57,653) square feet, a significant decrease from the 121,604 SF of net absorption reported in the third quarter 2016 .  One building totaling 5,839 SF was completed in the fourth quarter 2016 with 378,261 SF still under construction. Looking at industrial building sales of 15,000 square feet or larger, Nassau and Suffolk County industrial sales figures decreased slightly during the third quarter 2016 in terms of dollar volume compared to the second  quarter of 2016. In the third quarter 2016, 17 industrial transactions closed with a total volume of  $61,183,000. The 17 buildings totaled 706,346 SF and the average price per square foot equated to $86.62 PSF, up from $83.30 PSF in the second quarter 2016.



Industrial Market Report - Nassau Suffolk Long Island

Description4th Q 20151st Q 20162nd Q 20163rd Q 20164th Q 2016Trend
Vacancy Rate3.50%3.30%3.00%3.00%2.90%Down
Net Absorption509,74777,580302,590121,604(57,653)Down
Vacant Sublease Space152,440128,850192,684170,760284,888Up
Rental Rate (All Industrial)$9.97$9.99$9.98$10.20$10.59Up
Rental Rate (Warehouse)$9.54$9.49$9.61$9.86$10.19Up
Rental Rate (Flex)$13.62$14.10$13.15$13.42$14.94Up
New Construction Delivered   44,0005,839Down
SF of Industrial Inventory164,217,386164,314,111165,268,941165,312,941165,229,392Down
# of Industrial Bldg's6,4906,5136,6006,6016,609Up
Sales Activity - $'s$118,729,250$89,130,249$86,627,075$61,183,000 Down
Sales Activity - # of Bldg's36222217 Down
Sales Activity - Total SF1,450,920936,5071,039,883706,346 Down
Sales Price PSF$81.83$95.17$83.30$86.62 Up
Data Source - CoStar Group

Historical Long Island Industrial Market Reports - Nassau Suffolk

QuarterYearSorted By Year In Descending OrderProperty TypeMarket Report DescriptionLink
1st2016IndustrialLong Island Nassau Suffolk Industrial Property Market Report2016 1st Qtr Industrial.pdf
2nd2016IndustrialLong Island Nassau Suffolk Industrial Property Market Report2012 3rd Qtr Industrial Market Report.pdf
3rd2016IndustrialLong Island Nassau Suffolk Industrial Property Market Report2016_3rd_Qtr_Industrial.PDF
4th2016IndustrialLong Island Nassau Suffolk Industrial Property Market Report2016_4th_Qtr_Industrial.PDF
1st2015IndustrialLong Island Nassau Suffolk Industrial Property Market Report2015_1st_Qtr_Industrial_Market_Report.pdf
2nd2015IndustrialLong Island Nassau Suffolk Industrial Property Market Report2015_2nd_Qtr_Industrial.pdf
3rd2015IndustrialLong Island Nassau Suffolk Industrial Property Market Report2015 3rd Qtr Industrial.pdf
4th2015IndustrialLong Island Nassau Suffolk Industrial Property Market Report2015 4th Qtr Industrial.pdf
3rd2014IndustrialLong Island Nassau Suffolk Industrial Property Market Report2014_3rd_Qtr_Industrial_Market_Report.pdf
4th2014IndustrialLong Island Nassau Suffolk Industrial Property Market Report2014_CBCICS_4th_Qtr_Ind_Market_Report.pdf
1st2014IndustrialLong Island Nassau Suffolk Industrial Property Market Report2014_1st_Qtr_Industrial_Market_Report.pdf
2nd2014IndustrialLong Island Nassau Suffolk Industrial Property Market Report2014_2nd_Qtr_Industrial_Market_Report.pdf
1st2013IndustrialLong Island Nassau Suffolk Industrial Property Market Report2013_1st_Qtr_Industrial_Market_Report.pdf
4th2013IndustrialLong Island Nassau Suffolk Industrial Property Market Report2013_4th_Qtr_Industrial_Market_Report.pdf
2nd2013IndustrialLong Island Nassau Suffolk Industrial Property Market Report2013_2nd_Qtr_Industrial_Market_Report.pdf
3rd2013IndustrialLong Island Nassau Suffolk Industrial Property Market Report2013_CBCICS_3rd_Qtr_Industrial_Market_Report.pdf
3rd2012IndustrialLong Island Nassau Suffolk Industrial Property Market Report2012 3rd Qtr Industrial Market Report.pdf
4th2012IndustrialLong Island Nassau Suffolk Industrial Property Market Report2012_4th_Qtr_Industrial_Market_Report.pdf
1st2012IndustrialLong Island Nassau Suffolk Industrial Property Market Report2012_1st_Qtr_Industrial_Market_Report.pdf
2nd2012IndustrialLong Island Nassau Suffolk Industrial Property Market Report2012 2nd Qtr IndustrialMarket Report.pdf

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