New Orleans Industrial Market Expected To Add Record Amount of New Supply This Year

Contrary to the national trend, which has seen a sharp pullback in industrial groundbreakings since the end of 2022 due to elevated borrowing and construction costs, total construction starts for industrial property in New Orleans reached an all-time high last year, and 2024 is on pace to set another new record for new supply. More than 1.3 million square feet are expected to be completed in New Orleans this year.