• Total space under construction increased from 335,519 sq. ft. in Q1 2021 to more than 615,000 sq. ft. in Q2 2021.
  • Total net absorption in the second quarter was negative 195,593 sq. ft., bringing the total year-to-date net absorption was negative 223,725 sq. ft.
  • The overall direct vacancy rate for Q2 2021 was 13.0%, 50 basis points higher than Q1 2021.