• Over 560,000 sq. ft. of positive net absorption was recorded in Q1 2020—a 13.3% increase from Q1 2019.
  • The overall average achieved lease rate for Q1 2020 rose 3.6% quarter-over-quarter to $8.03 per sq. ft. NNN.
  • The overall average direct asking lease rate increased 6.5% quarter-over-quarter to $8.78 per sq. ft. NNN in Q1 2020.
  • Direct vacancy fell 12 bps quarter-over-quarter to 6.5% while availability decreased by 91 bps to 9.1% in Q1 2020.
  • Construction activity remained elevated with 6.9 million sq. ft. under construction with over 65% of the space underway planned for spec development.