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Long Island Industrial Market Report

ISLAND CORPORATE SERVICES

Industrial Market Report for Nassau and Suffolk Counties, Long Island

The second quarter 2018 vacancy rate rose from the previous quarter to 3%. Flex properties had a vacancy rate of 4.8% which is lower than the 5.2% vacancy rate of the first quarter 2018. The warehouse vacancy rate at 2.8% rose from the quarter 2018 at 2.5%. Vacant industrial sublease space increased to 451,915 SF in the second quarter 2018 from 258,613 SF in the first quarter 2018. Vacant sublease space for flex properties decreased substantially to 1,100 SF in the second quarter 2018 from 27,322 SF in the first quarter 2018. Vacant warehouse sublease space increased to 450,815 SF in the second quarter 2018 from 231,291 SF in the first quarter 2018. Net absorption for the second quarter was negative, finishing at (478,930) square feet, a significant decrease from the positive 129,058 SF of net absorption reported in the first quarter 2018. 234,169 SF of new space in two buildings was completed in the second quarter 2018 with 243,490 SF still under construction.

  

 

Description2nd Q 20173rd Q 20174th Q 20171st Q 20182nd Q 2018Trend
Vacancy Rate3.10%3.20%2.90%2.70%3.00%Up
Net Absorption46,675-347,146504,519129,058-478,930Down
Vacant Sublease Space276,348290,356233,351258,613451,915Up
Rental Rate (All Industrial)$11.12$11.06$11.30$11.45$11.80Up
Rental Rate (Warehouse)$10.60$10.60$10.86$10.93$11.27Up
Rental Rate (Flex)$14.59$14.74$14.52$15.03$15.16Up
New Construction Delivered081,55200234,169Up
SF of Industrial Inventory165,321,598165,552,897165,552,897166,522,063166,522,063Steady
# of Industrial Bldg6,6296,6666,6666,7036,703Steady
Sales Activity - $'s $96,380,000 $80,337,000  
Sales Activity - # of Bldg 22 18  
Sales Activity - Total SF 826,152 573,923  
Sales Price PSF $116.66 $94.51  
Data Source - CoStar Group
QuarterYearSorted By Year In Descending OrderProperty TypeMarket Report DescriptionLink
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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