Region: Company News
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Industrial activity on the rise in key U.S. markets
Improvements in the industrial market that started in the last quarter of 2025 have continued through the first three months of the year, as evidenced by new leasing activity, an increase in site tours and requests for proposals.
It’s a welcome sign after several consecutive quarters slowed by uncertainty, changes in supply chain strategies and C-suite hesitancy to make long-term commitments in a rapidly shifting trade and tariff environment.
Industrial demand is clearly back on the rise in key U.S. locations, especially inland distribution hubs connecting large swaths of the population and specific port markets.
We anticipate this increased activity to continue, especially given the impact of lower interest rates and more certainty around tariffs, which will ultimately lead to greater transaction volume in 2026.
With this renewed stability in the market, supply tempered by high construction costs, and demand for future-forward inventory, new industrial development is primed to perform well with occupiers and investors.
Active Development Regions
Across Rockefeller Group’s seven regions, a significant share of recent completions remains in the North Central region, the company’s first industrial market comprising New Jersey, Pennsylvania and the Midwest. The company has been active in the region’s industrial market for nearly 50 years.
While the West region, including the Inland Empire, Las Vegas and more recently northern California and Washington State, remains among the company’s most active, other markets have grown notably in recent years including the Mid-Atlantic and Southeast.
In the Mid-Atlantic, Maryland and the Port of Virginia have become areas of focus and stronger demand from occupiers. In the Southeast, South Carolina and Georgia continue to generate consistent leasing activity and investment.
“In the Mid-Atlantic, Maryland and the Port of Virginia have become areas of focus and stronger demand from occupiers.”
Occupier Demand
Through the first quarter of 2026, there has been an increase in tenant activity in the Southern New Jersey industrial submarket, specifically in Carneys Point and Philadelphia, where Rockefeller Group is developing more than 2 million square feet of Class A industrial. After a pause in activity, the market is beginning to see new occupier requirements in the 500,000 square foot range and some requirements of more than 1 million square feet.
The Las Vegas industrial market has gained renewed momentum during Q1 2026. This has been fueled by increased tenant and owner-user demand as companies expand operations and compete for well-located, functional space. Leasing velocity has improved, and absorption trends point toward strengthening fundamentals as the market continues to rebalance.
Rockefeller Group has completed three projects in the Las Vegas market, including Nellis Logistics Center, a 134,000 square foot facility that is an example of the smaller footprint that has met stronger demand for inland distribution hubs with access to major population centers.
New Markets
In addition to long-established industrial markets, Rockefeller Group and other national developers and investors are expanding into new markets in concert with growing domestic logistics requirements.
The growth has been compounded by increased ecommerce fulfillment and strong consumer spending. Markets that Rockefeller Group has entered or evaluated in recent years include Northern California, the Pacific Northwest, Texas, the Mid-Atlantic and Ohio.
“The growth has been compounded by increased ecommerce fulfillment and strong consumer spending.”
In Suffolk, Va., the company is partnered with The Matan Companies on Port 460, a two-phase, multi-year industrial and logistics project totaling approximately 5 million square feet. The project stands to benefit from the state of Virginia’s Port investment and infrastructure strategy.
About Rockefeller Group
Rockefeller Group is known for quality in the built environment, with development expertise spanning industrial, multifamily, office and mixed-use projects nationally. The company’s track record extends nearly a century, with roots traced back to the development of Rockefeller Center, a singular development and business address admired worldwide. This rich history has provided the foundation for deep expertise, an influential brand, financial stability through market cycles, and an expectation from all stakeholders for distinctive projects that provide value to partners, clients and communities.
Rockefeller Group has been engaged in large-scale industrial property development for more than 40 years, beginning with the partnership to develop the 1.7-million-square-foot International Trade Center in New Jersey. Since inception, the company has developed more than 28 million square feet of class-A industrial real estate for many of the world’s leading businesses and logistics firms.
In addition, the company advises businesses and property owners on trade and logistics matters related to Foreign Trade Zones through its FTZ Services subsidiary.
Rockefeller Group National Development Contacts:
| Brandi Hanback Executive Vice President & Head of Development [email protected] | Katie Lenss Managing Director Development [email protected] | Rebecca Williams Managing Director RGFTZ Services [email protected] |
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