Richmond Industrial Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Newmark, JLL, CBRE, Colliers
Quarterly industrial market indicators for Richmond, aggregated by CREhunt from Newmark, JLL, CBRE, Colliers. As of Q2 2026, vacancy was 5.2%, per Newmark.
Projected current industrial pricing — Richmond
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Richmond industrial yet, so this applies the typical cap rate across comparable industrial markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 multiple brokerages asking-rent data (benchmark cap rate 5.5%–7.5%, asking rent held flat). Assumes ~94% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Newmark | — | 5.2% | 900K SF | 10.7M SF | Newmark |
| Q1 2026 JLL | $8.21/SF/yr | 5.8% | 205K SF | — | JLL |
| Q1 2026 CBRE | $8.65/SF/yr | 5.6% | — | — | CBRE |
| Q1 2026 Newmark | $8.09/SF/yr | — | -70K SF | — | Newmark |
| Q4 2025 Newmark | $9.38/SF/yr | 5.1% | 800K SF | 8.0M SF | Newmark |
| Q3 2025 Newmark | $9.41/SF/yr | 5.3% | 338K SF | 8.0M SF | Newmark |
| Q2 2025 Newmark | $9.38/SF/yr | 5.1% | 1.3M SF | 8.0M SF | Newmark |
| Q1 2025 Colliers | $8.01/SF/yr | 3.9% | 786K SF | — | Colliers |
| Q1 2025 Newmark | $9.52/SF/yr | 5.0% | 800K SF | 5.0M SF | Newmark |
| Q4 2024 Newmark | $9.39/SF/yr | 4.6% | 2.4M SF | 5.0M SF | Newmark |
| Q3 2024 Newmark | $9.18/SF/yr | 4.4% | 500K SF | 5.0M SF | Newmark |
| Q2 2024 Newmark | $9.26/SF/yr | 4.5% | -900K SF | 5.0M SF | Newmark |
| Q1 2024 Newmark | $8.88/SF/yr | 3.6% | 2.5M SF | 6.0M SF | Newmark |
| Q4 2023 Newmark | $8.59/SF/yr | 3.3% | — | 3.0M SF | Newmark |
Industrial asking rents by submarket
The newest asking rent a named brokerage's report published for each Richmond industrial submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Northeast | $10.94/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Northwest | $9.74/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Southeast | $8.08/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Southwest | $8.10/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
How the brokerage sources compare
For Q1 2026, the brokerages CREhunt aggregates for Richmond industrial did not fully agree. On vacancy, the sources span 0.2 points — from 5.6% (CBRE) to 5.8% (JLL). Asking-rent estimates differ by $0.56/SF/yr — from $8.09/SF/yr to $8.65/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| CBRE | 5.6% | $8.65/SF/yr | — |
| JLL | 5.8% | $8.21/SF/yr | — |
| Newmark | — | $8.09/SF/yr | — |
Per-brokerage figures for Q1 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for industrial space in Richmond?
- CREhunt aggregates industrial asking-rent data for Richmond from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the industrial vacancy rate in Richmond?
- The industrial vacancy rate in Richmond was 5.2% as of Q2 2026 (Newmark).
- Where does CREhunt's Richmond market data come from?
- This report aggregates quarterly industrial market data for Richmond from Newmark, JLL, CBRE, Colliers.
- How much do brokerage estimates differ for industrial space in Richmond?
- For Q1 2026, the brokerage sources CREhunt aggregates for Richmond did not fully agree. On vacancy, the sources span 0.2 points — from 5.6% (CBRE) to 5.8% (JLL). Asking-rent estimates differ by $0.56/SF/yr — from $8.09/SF/yr to $8.65/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.