The U.S. industrial market started 2021 stronger than expected with demand outpacing supply for the first time since Q2 2019. In fact, in the first quarter alone, the market absorbed 82.3 million square feet (msf), which is the most space ever absorbed in a first quarter of any year reported by Cushman & Wakefield—up 78.2% over the 46.2 msf reported in Q1 2020. Warehouse/distribution space proved to be the strongest secondary property type with 77.9 msf of net absorption. And manufacturing and high-tech space showed improvement over last year, ending the quarter with positive absorption. Of the 81 industrial markets tracked by Cushman & Wakefield, 23 markets saw more than 1.0 msf of positive net absorption and 62 markets experienced positive absorption.