New York Warehouse Footprint Expands to 117K SF
How Rare Is a 117K SF Warehouse in New York? By New York City standards, a 117,000-square-foot warehouse sits in a scarce upper tier of the industrial market. The city contains 158.9 million square feet of industrial stock, but most buildings are far smaller. Traditional warehouse footprints are typically under 25,000 square feet, and 6,842 properties fall below that threshold. Q2 2023 leasing activity increased 27% quarter-over-quarter, underscoring active demand for industrial space despite limited large-format availability. Similar to housing markets where rising inventory can shift negotiating leverage toward buyers, industrial users may also become more selective when supply expands amid easing prices . The average industrial building measures 24,846 square feet, while the median is only 8,822. Uneven Supply Concentration Intensifies Rarity A 117,000-square-foot facility stands above the common 50,000 to 99,999-square-foot band. Buildings above 75,000 square feet number just 249 ...