Buffalo Industrial Market Report
By CREhunt Research · Data through Q4 2023 · Aggregated from Cushman & Wakefield, Colliers
Quarterly industrial market indicators for Buffalo, aggregated by CREhunt from Cushman & Wakefield, Colliers. As of Q4 2023, average asking rent was $7.85/SF/yr and vacancy was 5.4%, per Cushman & Wakefield.
Projected current industrial pricing — Buffalo
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Buffalo 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 Q4 2023 Cushman & Wakefield asking-rent data (benchmark cap rate 5.5%–7.5%, asking rent held flat). Assumes ~95% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q4 2023 Cushman & Wakefield | $7.85/SF/yr | 5.4% | — | — | Cushman & Wakefield |
| Q4 2021 Colliers | $8.48/SF/yr | 5.4% | 10 SF | — | Colliers |
| Q4 2019 Cushman & Wakefield | $5.66/SF/yr | 3.6% | 1.8M SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for industrial space in Buffalo?
- As of Q4 2023, the average asking rent for industrial space in Buffalo was $7.85/SF/yr, per Cushman & Wakefield.
- What is the industrial vacancy rate in Buffalo?
- The industrial vacancy rate in Buffalo was 5.4% as of Q4 2023 (Cushman & Wakefield).
- Where does CREhunt's Buffalo market data come from?
- This report aggregates quarterly industrial market data for Buffalo from Cushman & Wakefield, Colliers.