Jerry Doty / November 13, 2019
The Third Quarter of 2019 continued the trend with decreased vacancy, increased asking rates and positive net absorption.
Positive net absorption continued to increase with over 1.3 million square feet
absorbed in Q3 2019 pushing the year to date total to over 4.2 million square
feet. In order to meet this continued demand developers are surpassing records
levels of development with over 5.9 million square feet under construction
and another 10.7 million square feet planned. Despite the record levels of new
inventory to the market, asking lease rates continued to climb.
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