• A slow-down in the economy resulted in an increase in vacancy rates of 40 basis points (bps) quarter-over-quarter, with overall average rates finishing Q2 2020 at 5.0%.

  • Q2 2020 ended with 127,399 sq. ft. of positive net absorption. A large portion of the positive net absorption came from 620,000 sq. ft. of build-to-suit completions, which did not affect the existing vacancy in the market.

  • In total 883,150 sq. ft. reached completion in the quarter, with numerous projects set for completion in the second half of 2020.