A theme throughout much of 2019 was the delay in completion of new developments. In Q4, some of these properties came to market, which provided marginal relief to availability.
Key Findings
- Net absorption was 3.1 million SF, the highest quarterly level of 2019.
- 2.8 million SF of new supply came to market, which provided marginal relief to availability.
- Annual asking net rental rates increased by 30% to $9.44 PSF.