Long Island industrial market’s vacancy rates performance varies by building size
Total vacancy % by building size
- Since the pandemic Long Island industrial vacancy rates have experienced some fluctuation, with the total inventory vacancy rate sitting at 5.5% in Q4 2024.
- Looking at the buildings by size tranche, buildings 100k-250k+ sf currently have a vacancy rate of 5%, 200-bps higher compared to the market total. Since 2020, 28 new warehouse/distribution buildings totaling nearly 4.5 msf have delivered on Long Island. Among these new properties, there are currently 10 full-building speculative availabilities that are move in ready between 100-250ksf.
- Meanwhile, buildings 50k-100k sf currently have a vacancy rate of 5.0% and buildings 500k+ sf have a rate of 5.2%, both below the total market rate.
December 2, 2024
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US-NY-LI Long Island