Space Demand Forecasts

The Space Demand Forecast for the U.S. is issued quarterly by NAIOP.

Industrial Space Demand Forecast

By:  Hany Guirguis, Ph.D., Manhattan College and Joshua Harris, Ph.D., Fordham University

Release Date: MARCH 2024

The NAIOP Industrial Space Demand Forecast is based on a predictive model that forecasts demand for industrial space at the national level on a quarterly basis for eight consecutive quarters.

It utilizes variables that comprise the entire supply chain and lead the demand for space, including varying measures of employment, GDP, exports and imports, and air, rail and shipping data.

Leading indicators that factor heavily into the model include the Federal Reserve Board’s Index of Manufacturing Output (IMO), the Purchasing Managers Index (PMI) from the Institute for Supply Management (ISM) and net absorption data from CBRE Econometric Advisors.

Download the NAIOP Industrial Demand Model 2011 for a full description of the model and methodology.

The forecast for the U.S. is issued semiannually in February and August. Below are the current and previous Industrial Space Demand Forecasts.