U.S. container imports remained resilient through July 2026, but inland markets captured 83% of industrial net absorption while port market vacancy rose to 7.7%, driven by shifting distribution networks, lower inland costs, and growing imports from Mexico and other non-China sources.
- Inland markets captured 83% of U.S. industrial net absorption in H1 2026, the highest share since 2010
- U.S. port market industrial vacancy reached 7.7%, up 20 basis points from year-end 2025 and above the national 6.8% rate
- Container imports at 10 major U.S. maritime ports increased 0.5% year over year through July, exceeding 14.5 million TEUs
- U.S. imports from China fell 23% year over year in H1 2026, while imports from Mexico, Taiwan, Vietnam and Thailand increased
- New leasing activity among Big Box users in port markets increased 70% year over year in H1 2026, signaling future occupancy gains
U.S. container imports remained resilient through July, but shifting distribution networks and an overhang of new warehouse supply have contributed to higher industrial vacancy in port markets, according to Cushman & Wakefield’s new report, From Port to Property: Resilient Import Volumes Amid Shifting Trade Patterns and Industrial Demand.
Inland markets captured 83% of U.S. industrial net absorption in the first half of 2026, their highest share since 2010. Meanwhile, industrial vacancy across U.S. port markets reached 7.7%, up 20 basis points from year-end 2025 and above the national rate of 6.8%.
The divergence comes as imports at 10 major U.S. maritime ports increased 0.5% year over year through July, exceeding 14.5 million twenty-foot equivalent units (TEUs). Monthly imported container volumes exceeded 2 million TEUs in May, June and July.
“Cargo volumes tell only part of the warehouse demand story,” says Jason Price, head of Americas logistics and industrial research at Cushman & Wakefield. “Goods continue to arrive, but where companies choose to store and distribute them is changing. Inland markets offer cost advantages, while imports arriving through Mexico can move directly into inland distribution networks. At the same time, port markets are still absorbing space delivered during the construction boom.”
Key takeaways:
· New industrial supply exceeded net absorption in nine of the 14 major North American port markets examined over the past year. U.S. port-market vacancy increased even as vacancy across the rest of the country fell 20 basis points, reflecting stronger demand and more disciplined additions to supply.
· Lower labor, rent and energy costs have helped inland markets attract occupiers. Growing imports from Mexico have also supported demand for distribution facilities served directly by truck and rail, without goods first passing through a U.S. maritime port.
· New Jersey recorded 6.3 million square feet of net absorption over the past 12 months, while Los Angeles recorded 5.9 million square feet.
· New leasing activity among Big Box users taking 300,000 square feet or more in port markets increased 70% year over year in the first half of 2026, led by third-party logistics providers and manufacturing companies. That activity points to future occupancy gains as tenants move into leased space.
· New supply in many port markets also remains well below its 2023–2024 peaks, giving demand an opportunity to catch up with recent deliveries.
· U.S. imports from China fell 23% year over year in the first half of 2026, while imports from trading partners including Mexico, Taiwan, Vietnam and Thailand increased. China ranked fourth among sources of U.S. imports by value, behind Taiwan.
· Canadian ports recorded a 1.5% year-over-year increase in laden container volumes through July, led by Vancouver and Prince Rupert. Vancouver also led Canadian industrial markets in net absorption over the past 12 months, at approximately 2 million square feet.
· Inflation, elevated interest rates and rising energy prices could constrain consumer spending and occupier demand, while further changes in trade policy could alter cargo flows and distribution decisions.
