Demand for industrial space continued to improve in Q2 2013 with the national availability rate falling 30 basis points (bps) during the quarter to 12.0%. At quarter’s end, the Class A institutional availability rate stood at 17.6%, representing 19.2% of total available space, illustrating the relative scarcity of—and continued demand for—more modern Class A space. The pace of net absorption was slightly slower during the quarter, decreasing from 63 million sq. ft. in Q1 2013 to 45 million sq. ft. in Q2 2013.