Portside warehouse vacancy rates in the U.S. rose 20 basis points to 7.7% through July, above the national rate of 6.8%, even as imports at 10 major maritime ports grew 0.5% year over year to more than 14.5 million TEUs, according to a Cushman & Wakefield report. Inland markets captured 83% of U.S. industrial net absorption in the first half of 2026, their highest share since 2010, as occupiers chase lower labor, rent and energy costs and as Mexican imports move directly into inland distribution networks. The firm warns that inflation, elevated interest rates, energy prices and trade policy shifts could still weigh on demand.
Warehouse vacancy rates near U.S. seaports climbed 20 basis points to 7.7% through July, according to a report from commercial real estate firm Cushman & Wakefield, even as container import volumes at the nation’s major maritime gateways held firm. The portside figure sits above the national industrial vacancy rate of 6.8%, the firm said in its report, “From Port to Property: Resilient Import Volumes Amid Shifting Trade Patterns and Industrial Demand.”
Imports keep arriving, but storage moves inland
The divergence between cargo flows and warehouse demand is the central finding of the report. Imports at 10 major U.S. maritime ports rose 0.5% year over year through July, surpassing 14.5 million twenty-foot equivalent units (TEUs), according to Cushman & Wakefield. Monthly imported container volumes topped 2 million TEUs in May, June and July.
Instead of leasing inventory storage space at the ports, companies have been storing goods elsewhere. Inland markets captured 83% of U.S. industrial net absorption in the first half of 2026, their highest share since 2010, the report states. That shift has left port-adjacent space emptier even as boxes continue to land at the docks.
The report attributes the inland pull to cost differentials: inland markets offer lower labor, rent and energy costs than port markets. Growing imports from Mexico have also supported demand for distribution facilities served directly by truck and rail, without goods first passing through a U.S. maritime port.
Two forces emptying port warehouses
Cushman & Wakefield cites two drivers behind the slack portside demand: shifting distribution networks and an oversupply of new warehouse supply. Port markets, the report notes, are still absorbing space delivered during the construction boom, a supply wave that continues to weigh on rents and occupancy.
“Cargo volumes tell only part of the warehouse demand story. Goods continue to arrive, but where companies choose to store and distribute them is changing. Inland markets offer cost advantages, while imports arriving through Mexico can move directly into inland distribution networks. At the same time, port markets are still absorbing space delivered during the construction boom.” — Jason Price, Head of Americas Logistics & Industrial Research at Cushman & Wakefield
Price’s assessment frames the vacancy rise as a geographic reallocation of demand rather than a collapse in goods movement, with the 0.5% import gain and the 7.7% port vacancy rate describing the same period.
Risks temper the leasing picture
Despite the overall improving leasing activity, the report warns that risks remain. Inflation, elevated interest rates and rising energy prices could constrain consumer spending and occupier demand, according to Cushman & Wakefield. Further changes in trade policy could also alter cargo flows and distribution decisions.
Those factors matter for the inland markets that have absorbed the bulk of demand: the 83% net absorption share recorded in the first half of 2026 depends on continued cost advantages and stable truck and rail access from Mexico, both of which trade policy shifts could affect, the report notes.
The findings were published by Cushman & Wakefield and reported by DC Velocity on Oct 21, 2026. The report’s title, “From Port to Property,” reflects its focus on the split between resilient import volumes and shifting industrial real estate demand.
Source: DC Velocity
Compiled from international media by the SCI.AI editorial team.
