By Nicholas Rita, Stefan Weiss, Dennis Schoenmaker, Ph.D.

The CBRE Econometric Advisors’ (EA) Taking Rent series leverages proprietary CBRE transaction data to model the spread between asking and taking rents across markets over time. By combining transaction data with asking rents at the time of transactions, we can accurately track this difference. Here are some key takeaways from the data: 

• Although industrial taking rents have historically been lower than asking rents, their growth rates have varied. From the onset of the pandemic to the present (Q2 2020 to Q1 2024), taking rents have increased by 36%, compared to a 35% increase in asking rents.
• At the market level, the strength in deal level pricing growth largely reflects what we have seen nationally. As of Q1 2024, out of the 74 markets tracked, 22 have taking rents that surpass their asking rents. This marks a significant increase from Q1 2023, when only nine markets showed a premium in taking rents over asking.