Polk Industrial MarketView Q2 2021
15 Jul 2021 1 Minute Read
The entire construction pipeline totaling 1.4 million sq. ft. is on track to deliver over the next 90 days, some very early into the 3rd quarter. These projects are all speculative and currently fully available.
As many of the very large blocks of space were leased last year, the potential for similarly staggering absorption as been minimized. Absorption of 523,163 sq. ft. so far this year is just 10% of 2020 levels.
Market vacancy has remained mostly stable this year, hovering at 5% as a few moderate sized availabilities remain.