Figures

Savannah Industrial Figures Q1 2025

April 24, 2025 10 Minute Read

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Key Takeaways

 

‒Leasing activity picked up in Q1 2025, reaching 4.3-million sq. ft., the highest since Q1 2024.
 
‒The first quarter’s net absorption was 233K sq. ft.; leasing activity will convert to additional net absorption as tenants take occupancy in the coming quarters.
 
‒The vacancy rate increased to 11.8% in Q1, the highest in the last fifteen years.
 
‒The average NNN rent in Savannah increased to $7.21 per sq. ft., a 2.0% increase YoY.