"We are pleased to release the latest State of the U.S. Industrial Market. This quarterly report provides key metrics on supply, demand and pricing of industrial real estate along with analysis of related economic drivers including ports, labor and reshoring at both national and market-level geographies."

"Total availability of 20.4% decreased 50 basis points year over year due to strong leasing activity"

"Leasing volumes have stabilized in recent quarters and have consistently surpassed pre-pandemic levels as transactions are concentrated in the CBD and Southeast Submarkets"

"Availability of 24.0% reached a new high, ending 110 basis points higher than Q1 2023"

"Uptick in leasing activity to 1.6 million square feet (msf) is above the 5-year quarterly average of 1.4 msf"

"The overall average asking rent of $43.63 per square foot (psf) was up 4.6% year over year and is expected to continue to increase in 2024"

"Baltimore's Q1 2024 leasing activity met the five-year average for the second  consecutive quarter."

"Large transactions in downtown submarkets dominate market for second straight quarter"

"Leasing activity had a healthy start to the year despite subdued demand from large tenants"

"Leasing activity continues to rise as the region's unemployment rate remains low"