• Six months in, year-to-date positive net absorption reached over 11.2 million sq. ft., up 6.7% from the same time last year.
  • Strong demand coupled with low levels of new completions during the quarter caused the vacancy rate to plunge to 3.0%, the lowest it has been in the current cycle.
  • Average land prices in the IE of $30.00 per sq. ft. at the close of Q2 2019, was up 20.0% year over year and nearly 40.0% over the last two years.