U.S. Industrial Tenant Demand Study

The 13th Annual U.S. Industrial Tenant Demand Study provides an unprecedented view of industrial real estate trends through 2026. Drawing from JLL's market intelligence across more than 60 U.S. markets, this comprehensive analysis reveals: 

1. Market activity slowed with demand down 10.9% year-over-year as occupiers delay decisions, increasing time on the market. Warehouse & Distribution requirements declined while manufacturing demand rose.  

2. Build-to-suit inquiries are up 117% since 2018, with growing interest in land acquisition across the sector. This shift suggests occupiers are seeking financial independence, asset ownership, long-term cost control, operational stability, and appreciation potential. 

3. The Southeast remains the most active region, representing over 25% of total demand. Atlanta, Savannah, and Greenville/Spartanburg lead, driven by business-friendly policies, strong infrastructure, and demographic growth supporting manufacturing resurgence. 

4. Traditional retailers reduced space requirements by 16.7% year-over-year while the 3PL Logistics & Distribution industry increased demand by 12.8%. This divergence reflects how trade uncertainties and rising costs reshape industrial real estate, with retailers becoming cautious as logistics providers position against supply chain disruptions. 

This forward-looking analysis gives you critical insights into tenant behavior, location preferences, and how economic factors are reshaping industrial real estate decisions through 2026.