Portside warehouse vacancy rates in the U.S. rose 20 basis points to 7.7% through July, above the national rate of 6.8%, according to Cushman & Wakefield. The rise came even as imports at 10 major maritime ports grew 0.5% year over year to more than 14.5 million TEUs, with monthly volumes exceeding 2 million TEUs in May, June and July. Inland markets captured 83% of U.S. industrial net absorption in the first half of 2026, their highest share since 2010, as occupiers sought lower labor, rent and energy costs and benefited from growing Mexican imports moved by truck and rail.
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 imports at the nation’s major ports continued to grow.
The portside vacancy figure, reported by Supply Chain Xchange, sits above the national industrial vacancy rate of 6.8% and marks a rise from year-end 2025 levels. The firm attributed the empty space to shifting distribution networks and an oversupply of newly built warehouse supply.
The report, titled “From Port to Property: Resilient Import Volumes Amid Shifting Trade Patterns and Industrial Demand,” found that cargo is still arriving in force even as storage demand migrates away from coastal facilities.
Imports keep growing while port warehouses empty
Container volumes 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 the report.
Monthly imported container volumes topped 2 million TEUs in each of May, June and July, the source states. The gap between rising imports and rising portside vacancy is the central puzzle the report sets out to explain.
Rather than renting inventory storage space at ports, companies have been storing goods elsewhere, redirecting demand toward distribution networks farther inland.
Inland markets capture a record share of demand
Inland markets absorbed 83% of U.S. industrial net absorption in the first half of 2026, their highest share since 2010, according to Cushman & Wakefield.
The report said inland markets have attracted occupiers because they 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.
Jason Price, Head of Americas Logistics & Industrial Research at Cushman & Wakefield, said cargo volumes alone do not explain where warehouse demand is heading.
“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
Risks temper the leasing picture
Despite improving leasing activity overall, the report warned that several risks could constrain occupier demand going forward.
Inflation, elevated interest rates and rising energy prices could weigh on consumer spending, the firm said, while further changes in trade policy could alter cargo flows and distribution decisions.
The findings suggest that portside warehouse operators face a market where import volumes remain resilient but tenants increasingly favor inland locations on cost and access grounds.
Source: thescxchange.com
Compiled from international media by the SCI.AI editorial team.
