• The average rent asking price is US$4.63 per sq. ft. per year, which is US$0.05 lower compared to Q1 2019 (US$4.68 per sq. ft.)
  • New supply in Q1 2020 reached 1.15 million sq. ft. and stock reached 112 million sq. ft. Activity in the region has not ceased and the construction of speculative space has remained steady.
  • Construction continues to increase and reached 4.98 million sq. ft., a figure that had not been seen since 2017.