Salem Industrial Submarket Q3 2024 Update

The Salem industrial submarket remains one of the most dynamic in the state, despite maintaining the highest vacancy rate in New Hampshire at 11.1% as of the third quarter of 2024. This represents a modest 0.7% increase year-over-year, marking the smallest rise in vacancy over the past three years.

Rental rates, while showing slight declines in recent quarters, remain among the highest in the state, reflecting continued demand. With notable lease and sales activity—including Sheergard Composite Solutions leasing 56,800 SF and Redstone acquiring a prime property at 3 Industrial Way—the market is seeing strong interest across manufacturing, distribution, and service sectors.