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New bulk industrial occupancies reached 221M SF through June, up 25% from H1 2025, according to Colliers.

Net absorption climbed 82% to 108M SF, while 26 buildings of at least 1M SF recorded new occupancies.

Demand strengthened across logistics, manufacturing, construction, and data center supply chains as large-format vacancy continued to improve.

Industrial occupiers regained momentum in the first half of 2026, with new leasing, build-to-suit projects, and user purchases driving a sharp increase in move-ins. According to Colliers' Industrial Tenant Tracker, new bulk industrial occupancies of at least 100,000 SF reached 221M SF through June, up 25% from 177M SF during the same period in 2025.

The improvement was even stronger in net absorption, which reached 108M SF, an 82% increase from 60M SF a year earlier, according to Colliers. The figures point to a market moving beyond the post-pandemic slowdown as tenants restart expansion plans and available big-box space gets absorbed at a faster rate.

The industrial market spent the past several years working through the effects of the post-pandemic normalization, including slower leasing, elevated vacancy, and a large development pipeline. The latest occupancy figures suggest that the reset is becoming less pronounced, particularly for larger facilities.

Colliers found that new bulk occupancies increased across every size category during H1 2026. The strongest growth came from facilities of at least 750,000 SF, where occupancy volume jumped 52% year over year to 47M SF. Every category above 200,000 SF recorded growth of more than 20%, while the 100,000-to-199,999 SF segment increased just 1% to 54M SF.

The average new bulk transaction also grew to 288,855 SF from 267,000 SF in 2025, although it remained below the 309,000-SF average recorded in 2022.

Large facilities drove much of the recovery. Users moved into 26 buildings measuring at least 1M SF during H1 2026. That was nearly double the 15 occupancies recorded in H1 2025. More than one-third involved build-to-suit facilities or user purchases. Activity was concentrated in the West, Southeast, and Southcentral regions.

Several major occupancies highlight the trend. Hyundai SK moved into a $5B facility in Kingston, GA. Jabil purchased a 1.5M-SF building in the Memphis market. The facility will manufacture large-scale cooling systems for data center infrastructure. Tesla also occupied a 1.5M-SF build-to-suit facility in Sparks, NV.

Regional performance varied. The Midwest recorded 196 bulk occupancies totaling 49M SF. That was an 18% year-over-year increase. The West led by volume with 184 occupancies totaling 54M SF. The Northeast posted the fastest growth. Occupancy volume surged 173% to 25M SF across 86 move-ins. The Southeast fell 17% to 44M SF.

Third-party logistics, trucking, and transportation companies remained major users. They accounted for roughly one-third of new bulk occupancies of at least 100,000 SF, according to Colliers. Asian-based companies represented about 23% of 3PL bulk occupancies since the beginning of 2024.

The tenant mix is also becoming more diverse. Manufacturing represented nearly 15% of H1 2026 bulk occupancies. That was down from 17% in 2025. Building materials, construction, power equipment, and HVAC companies increased their combined share to more than 10%. That compared with 8% in 2025.

Data center-related demand is another growing source of activity. Companies are producing, storing, and distributing infrastructure for data centers. Their products include electrical and cooling equipment. These users collectively represented more than 10% of bulk occupancy activity in H1 2026.

The breadth of the recovery matters as much as the headline growth. Industrial demand is no longer being driven primarily by traditional logistics users. Manufacturing, construction-related businesses, data center suppliers, and e-commerce companies are all contributing to the absorption of large-format space.

Amazon was the most active new bulk occupier in H1 2026, taking at least 13 facilities totaling 6.5M SF, according to Colliers. DHL followed with six facilities totaling 3.5M SF, while DSV occupied five totaling another 3.5M SF. E-commerce represented 4.4% of bulk occupancies during the period, with Colliers expecting that share to increase following recent lease announcements.

For landlords and developers, the shift is particularly relevant because demand is strengthening while new supply remains restrained. Colliers said the construction pipeline is well below its recent peak and pre-COVID levels, creating a more favorable supply-demand balance as existing inventory gets absorbed.

The result could be a gradual improvement in industrial fundamentals after several years of normalization. Large-format vacancy has already declined for several consecutive quarters nationally and across most major markets, suggesting the sector may be moving into a new phase of the cycle.

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