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Available Space for Smaller Industrial Properties Remains Near Record Low

Dearth of New Construction Catering to Smaller Tenants Keeps Market Tight

Commercial HVAC, refrigeration, and plumbing firm Evolution Maintenance leased 10,395 square feet last quarter at 105 Flex Ave. in Portland, Tennessee. The space was filled only five weeks after being listed as available for lease. (CoStar)
Commercial HVAC, refrigeration, and plumbing firm Evolution Maintenance leased 10,395 square feet last quarter at 105 Flex Ave. in Portland, Tennessee. The space was filled only five weeks after being listed as available for lease. (CoStar)

A shortage of industrial space available to small, blue-collar businesses has prevailed across most of the United States for more than five years, and the industrial building boom that started during the pandemic has done little to remedy the situation.

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