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.

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Asking rent growth has moderated across lease size ranges

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."

For more information about the company and its products and services, please visit costargroup.com.

About CoStar Group

CoStar Group (NASDAQ:CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world's real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.

CoStar Group's major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia's leading property marketplaces. CoStar Group's industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.

CoStar Group's websites attracted over 139 million average monthly unique visitors in the fourth quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

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News Media:

Haley Luther

Senior Communications Manager

(216) 278-0627

hluther@costar.com

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