• Q4 2018 net absorption increased compared to the previous quarter and pushed the annual net absorption 230,000 sq. ft. above the total for 2017.
  • The market-wide vacancy rate declined to 2.4%, a new record low. Class A saw a vacancy increase due mainly to one new vacancy of 76,000 sq. ft.
  • The overall industrial average asking rate declined quarter-over-quarter by $0.12 per sq. ft. while the warehousing and manufacturing space asking rate increased by $0.07 per sq. ft.
  • The quarter closed with users seeking almost 1.6 million sq. ft. of space. This is only 111,000 sq. ft. less than total available sq. ft. and more than double the total vacant sq. ft. in the market.