Developers gear projects to dynamic profile of industrial tenants
- For the 22nd consecutive quarter, the overall industrial vacancy rate remained below 4%, dropping 20 basis points (bps) from the previous quarter to 3.2%.
- Following occupancy gains of nearly 1.0 million sq. ft. in Q4 2019, the Silicon Valley industrial market saw a second consecutive quarter of positive net absorption with 361,134 sq. ft.