• Nearly 2.3 million sq. ft. of positive net absorption was recorded in Q3 2021, up 70.7% quarter-over-quarter and almost triple the amount recorded in Q3 2020.
  • Year-to-date net absorption reached nearly 4.5 million sq. ft., up 66.9% year-over-year. 
  • The average achieved lease rate for Q3 2021 increased 7.6% quarter-over-quarter to $9.03 per sq. ft. NNN.
  • Total availability fell 31 bps quarter-over-quarter to 8.7% while direct vacancy was stable at 6.8%.
  • Construction activity remained elevated with 9.7 million sq. ft. underway. Eleven buildings totaling 2.6 million sq. ft. delivered in Q3 2021.
  • Overall sale volume reached $449.2 million in Q3 2021, 48.5% higher than the volume recorded in Q3 2020.