• Despite the 50-bp (basis points) increase from Q1 2020, vacancy remained 10-bps below Q2 2019 ending Q2 2020 at 2.3%.
  • The 500,000-sq.-ft. Shea Business Center in Santa Ana completed construction in Q2 2020 bringing much needed new inventory to the supply-restricted market.
  • The average asking lease rate increased 9.6% from Q2 2019 and 3.0% from Q1 2020 to $1.03 per sq. ft.