• Over 970,000 sq. ft. of positive net absorption was recorded in Q2 2019— the 37th consecutive quarter of positive net absorption.
  • The overall average direct asking lease rate decreased 1.8% quarter-over-quarter to $8.06 per sq. ft. NNN.
  • Direct vacancy increased to 6.3% in Q2 2019, 200 bps above the current cycle low of 4.3%.
  • Eleven buildings comprising 1.8 million sq. ft. delivered while construction activity remained elevated with 4.0 million sq. ft. underway in Q2 2019.