• Midwest industrial continued to post strong occupancy growth, low vacancy, increasing average asking lease rates, and continued new construction activity in Q2 2018. 
  • New construction activity is strong, with 26.9 million sq. ft. completed in 2018 year-to-date. Approximately 51.5 million sq. ft. is underway with 44% pre-leased.
  • Year-to-date over 37.8 million sq. ft. of positive net absorption was posted.
  • Average asking lease rates increased 2.5% from $4.54 per sq. ft. at the close of 2017 to $4.66 at the close of Q2 2018.  Vacancy declined 70 basis points (bps) over the same period, from 4.6% at the close of 2017 to 3.9% at the close of Q2 2018.