• Over 197,000 sq. ft. of warehouse and distribution space was absorbed market-wide in Q2 2020 with the bulk of net absorption stemming from the Northeast submarket.
  • Flex/R&D space took a small hit this quarter with 31,286 sq. ft. of negative absorption. Market-wide vacancy rose 90 basis points (bps) from 11.7% in Q1 2020 to 12.6% in Q2 2020.
  • Market-wide asking rates are up $0.13 per sq. ft. quarter-over-quarter to $5.93 per sq. ft. in Q2 2020.
  • Additionally, Class A warehouse/distribution asking rates grew $0.38 per sq. ft. quarter-over-quarter, but remain down $0.59 per sq. ft. year-over-year.