# Colliers Says Q3 2026 Industrial Absorption Hit 83 Million SF, Vacancy 7.2%

> Trailing 12-month absorption of 255 million square feet nearly matched 261 million square feet of deliveries after a year when supply beat demand by 112 million square feet. Construction underway rose 19% year over year to 329 million square feet but remains 54% below the 2022 peak.

- URL: https://www.yourcaio.co/news/colliers-q3-2026-industrial-83-million-sf-absorption-november-2026
- Published: 2026-11-11
- Author: David Cartolano (https://www.yourcaio.co/about)
- Category: Market Trends
- Property type: Industrial
- Tags: Colliers, Industrial Absorption, Vacancy, Q3 2026, Warehouse Demand
- Source: [Colliers](https://www.credaily.com/briefs/industrial-absorption-hits-83m-sf-strongest-since-2022/)

## Key Takeaways

- Colliers reported 83 million square feet of U.S. industrial net absorption in Q3 2026, the highest quarterly total since 2022, per CRE Daily's November 10, 2026 summary.
- Q3 deliveries totaled 71 million square feet, marking the second consecutive quarter absorption exceeded supply; national vacancy fell to 7.2%.
- Trailing 12-month absorption was 255 million square feet against 261 million square feet of deliveries, versus a 112 million square foot supply surplus the prior year.
- Dallas-Fort Worth led markets with 15.4 million square feet absorbed, followed by Chicago at 8.8 million and Houston at 8.3 million.
- Space under construction reached 329 million square feet, up 19% year over year but 54% below the 711 million square foot peak at year-end 2022.

**U.S. industrial net absorption reached 83 million square feet in Q3 2026**, Colliers data summarized by **CRE Daily on November 10, 2026**, the **strongest quarter since 2022**. **Deliveries totaled 71 million square feet**, so demand beat supply for the **second consecutive quarter** and **vacancy fell to 7.2%**.

The print lands the same week as [MDH Partners' Laredo DHL acquisition](https://www.yourcaio.co/news/mdh-partners-laredo-dhl-129301-sf-november-2026) and [JLL IPT's Boston distribution buy](https://www.yourcaio.co/news/jll-ipt-west-boston-distribution-36-million-november-2026). Macro tightening is showing up in **border, coastal, and infill** deal flow simultaneously.

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## How Much Did the Supply-Demand Balance Improve?

Colliers' trailing **12-month** math tells the reversal story:

| Period | Absorption | Deliveries | Net |
|--------|------------|------------|-----|
| Trailing 12 months (Q3 2026) | 255M SF | 261M SF | ~balanced |
| Prior trailing year | — | — | ~112M SF supply surplus |

**Asking rents** for warehouse and distribution space averaged **$10.43 per square foot**, slightly above the prior year, with Colliers saying rents **stabilized** after the supply-driven correction.

That stabilization pairs with [JLL's Q3 read of 3.2% national asking rent growth](https://www.yourcaio.co/news/cbre-q3-2026-industrial-104-6-million-sf-absorption-november-2026) to **$10.55 PSF** on a different survey. Directionally, landlords are **done giving away rollover**.

---

## Which Markets Won Q3 2026?

Top **MSA absorption**:

1. **Dallas-Fort Worth:** **15.4M SF**
2. **Chicago:** **8.8M SF**
3. **Houston:** **8.3M SF**

**Midwest and South** captured **~80%** of national demand. Regional vacancy:

| Region | Vacancy Q3 2026 | Change |
|--------|-----------------|--------|
| Midwest | 5.1% | -22 bps |
| West | 7.5% | -16 bps |
| South | 8.5% | slightly higher |
| Northeast | 8.1% | slightly higher |

Colliers saw vacancy fall in **34 of 79** tracked markets. Steepest drops: **Columbus, Indianapolis, Stockton, Charleston, Memphis, Phoenix**.

Houston's **8.3M SF** quarter aligns with [Colliers Houston's 21.1M SF YTD absorption](https://www.yourcaio.co/news/cbre-q3-2026-industrial-104-6-million-sf-absorption-november-2026) narrative and recent **owner-user** buying interest noted locally.

---

## Is Construction Coming Back?

**329M SF** sat under construction in Q3, **+19% YoY** but **-54%** from the **711M SF** peak at **year-end 2022**.

Leaders under construction:

- **DFW:** **40.3M SF**
- **Houston:** **25.5M SF**
- **Atlanta:** **19.8M SF**

**Austin** is the caution flag: **11.5%** of stock under construction with **19.2% vacancy**, per CRE Daily's Colliers recap.

Facilities Dive's **November 2, 2026** Colliers/JLL recap tied demand to **data-center supply chains**, **3PLs**, and **power infrastructure users**. Colliers echoes that **equipment and construction-material tenants** are absorbing while **older small buildings** lag.

---

## How Should This Colliers Print Be Used With CBRE and Yardi?

Three benchmarks, one quarter:

| Source | Q3 2026 headline | Vacancy read |
|--------|------------------|--------------|
| Colliers (via CRE Daily) | **83M SF** absorption | **7.2%** |
| CBRE (Your CAIO coverage) | **104.6M SF** absorption | **~6.8%** (JLL cited in sister coverage) |
| Yardi Matrix | Starts **274.4M SF** YTD | **~9.7%** |

Do not average them. Use Colliers for **market-share and regional vacancy trends**; use CBRE/JLL for **big-box flight-to-quality**; use Yardi for **development pipeline starts**.

Deal corroboration this week:

- **Phoenix portfolio:** [Oxford Sycamore 460k SF](https://www.yourcaio.co/news/oxford-sycamore-phoenix-460000-sf-industrial-november-2026)
- **Global logistics capital:** [CTP Vietnam platform $500M](https://www.yourcaio.co/news/ctp-vietnam-slp-500-million-november-2026)

---

## The Numbers Worth Writing Down

- Q3 2026 absorption: **83M SF** (Colliers)
- Q3 deliveries: **71M SF**
- National vacancy: **7.2%**
- Asking rent: **$10.43/SF** (slightly YoY positive)
- Trailing 12M absorption / deliveries: **255M / 261M SF**
- Under construction: **329M SF** (-54% vs. 2022 peak)
- Top market absorption: **DFW 15.4M SF**

---

## Absorption Beats Supply Again

Two straight quarters of **demand beating deliveries** is the macro line landlords needed after 2025's glut narrative. **83 million square feet** is not 2021 frenzy, but it is **enough** to keep [institutional buyers allocating 40% to warehouses](https://www.yourcaio.co/news/jll-ipt-west-boston-distribution-36-million-november-2026).

Underwrite **market-by-market**: Midwest tightening is real; **Austin oversupply** is real; **border logistics** trades on tenancy. Colliers gives you the map; your rent roll tells you if you are on it.

---

## Sources

- [Industrial Absorption Hits 83M SF, Strongest Since 2022](https://www.credaily.com/briefs/industrial-absorption-hits-83m-sf-strongest-since-2022/), CRE Daily, November 10, 2026
- [Industrial Facilities Gained Momentum in Q3: Colliers, JLL](https://www.facilitiesdive.com/news/industrial-facilities-gained-momentum-in-q3-colliers-jll/873454/), Facilities Dive, November 2, 2026
- [CBRE Q3 2026 Industrial Absorption](https://www.yourcaio.co/news/cbre-q3-2026-industrial-104-6-million-sf-absorption-november-2026), Your CAIO, November 2026
- [MDH Partners Laredo Acquisition](https://www.yourcaio.co/news/mdh-partners-laredo-dhl-129301-sf-november-2026), Your CAIO, November 2026

## Frequently Asked Questions

### What was U.S. industrial absorption in Q3 2026 according to Colliers?

Colliers reported 83 million square feet of net absorption in Q3 2026, the strongest quarter since 2022. Deliveries were 71 million square feet, so demand outpaced supply for the second straight quarter and vacancy declined to 7.2%, per CRE Daily on November 10, 2026.

### Which industrial markets led Q3 2026 absorption?

Dallas-Fort Worth absorbed 15.4 million square feet, Chicago 8.8 million, and Houston 8.3 million. The Midwest and South captured nearly 80% of national demand; the Midwest posted the lowest regional vacancy at 5.1%.

### How much industrial space is under construction in late 2026?

Colliers counted 329 million square feet under construction, up 19% year over year but 54% below the 711 million square foot peak at the end of 2022. Dallas-Fort Worth had 40.3 million square feet underway, Houston 25.5 million, and Atlanta 19.8 million.

### How do Colliers and Yardi Matrix vacancy readings differ?

Colliers reported 7.2% national vacancy for Q3 2026 while Yardi Matrix readings run higher because the firms measure stock differently. CRE Daily noted both describe the same supply slowdown with absorption catching up after 2025's delivery-heavy period.

### How does Colliers Q3 data compare to CBRE's industrial report?

CBRE reported 104.6 million square feet of Q3 absorption in a separate methodology, covered in [CBRE's November article](https://www.yourcaio.co/news/cbre-q3-2026-industrial-104-6-million-sf-absorption-november-2026). Both firms describe tightening big-box product and recovering demand led by Sun Belt and Midwest markets.

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Cite as: David Cartolano, "Colliers Says Q3 2026 Industrial Absorption Hit 83 Million SF, Vacancy 7.2%," YourCAIO.co, 2026-11-11, https://www.yourcaio.co/news/colliers-q3-2026-industrial-83-million-sf-absorption-november-2026