U.S. industrial asking rent growth has moderated across lease size ranges

After seeing significant gains from 2021-23, U.S. industrial asking rent growth has moderated across the three lease size ranges, according to Q1 2026 data from CoStar , the leading global provider of online real estate marketplaces, information and analytics in the property markets.

National asking rent growth trends:

• 50,000 sq ft and greater: compound annual growth rate over 8.8% since 2019; current annual rent change is now -2.7%.

• 25,000-50,000 sq ft: compound annual growth rate over 6.8% since 2019; current annual rent change is now largely muted.

• Less than 25,000 sq ft: compound annual growth rate over 5.5% since 2019; current annual rent change is now less than 1%.

"Asking rent growth has varied among the U.S. regions,” said Juan Arias, national director of industrial analytics at CoStar Group. “Leases larger than 50,000 square feet continue to see stronger annual asking rent gains in the mountain and northeastern states, having benefited from more limited growth in bulk logistics supply in the last few years. In leases between 25,000 and 50,000 square feet, moderation in asking rent growth has occurred across more regions, with new supply adding more competitive options for tenants over the last few years."

"Lastly, leases smaller than 25,000 square feet continue to see asking rent growth across most regions except the Pacific,” said Arias. “Small-bay tenants have seen significant rent increases over the last few years, as this segment of the market has seen limited supply additions. That said, rent growth is moderating as smaller businesses that focus on these lease-size segments are facing greater uncertainty amid the current economic backdrop."