Oklahoma City, Hartford and Cleveland Among Top Markets in CoStar’s Bulk Logistics Performance Ranking
Oklahoma City, OK; Hartford, CT; and Cleveland, OH, are among the top-performing big-box markets, according to an
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Oklahoma City, OK; Hartford, CT; and Cleveland, OH, are among the top-performing big-box markets, according to an updated ranking from CoStar, the leading global provider of online real estate marketplaces, information, and analytics in the property markets.
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Bulk logistics performance ranking, top 20 markets
Based on a Z-score analysis of the largest 54 markets in the U.S., Oklahoma City remained in the top spot, while Hartford moved up to second place, followed by Cleveland.
“Oklahoma City’s continued first-place ranking was driven by a combination of strong large-box leasing demand, tightening availability, and limited future supply among major U.S. logistics markets,” said Juan Arias, national director of industrial analytics at CoStar Group. “Sparse new construction and continued absorption within logistics hubs have helped the market outperform its peers on the scoring metrics, particularly vacancy expansion and availability within new logistics product.”
“Hartford’s move to second place for the big-box sector was due to tight conditions in its industrial property sector rather than exceptionally high transaction volume,” said Arias. “The industrial market is outperforming the total U.S., with a logistics vacancy rate of 5.6% and availability of 6.8%. The number of leases signed for spaces of at least 50,000 square feet increased about 29% from the pre-pandemic average, from 6.2 transactions annually to an average of 8 during the past two years.”
Cleveland’s shift to third place was supported by the second-lowest availability rate for logistics buildings completed since 2020 and the seventh-best vacancy performance.
“Cleveland’s strong performance is largely due to its structural scarcity,” said Arias. “The size of the overall industrial market expanded only 1.5% during the past five years, compared with the national average of 10.8%, and only about 421,500 square feet is currently under construction. Availability within logistics facilities larger than 100,000 square feet stands near 6.7%, well below the national benchmark.”
Big-box analysis
The three variables analyzed were: leasing activity for logistics spaces of 50,000 square feet or more in the last two years versus the pre-pandemic average since 2015, to assess tenant demand performance; vacancy rate expansion for logistics properties of over 100,000 square feet, to quantify how tight the big box market has remained over the last few years; and the availability rate of newer properties built since 2021, to assess the amount of space available in newer competitive properties.
The full big-box analysis can be found here.
For more information about the company and its products and services, please visit costargroup.com.
About CoStar Group
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Zonda, a leading provider of data, analytics, software, and marketplace solutions for the residential construction industry; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group’s websites attracted over 118 million average monthly unique visitors in the second quarter of 2026, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
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