• Midwest industrial vacancy increased just 0.1% over year-end 2019 to 3.9% in Q1 2020.

• Average asking rates fell slightly over year-end 2019, closing Q1 2020 at $4.79 per sq. ft. NNN.

• New construction activity is strong, with 11.8 million sq. ft. completed in Q1 2020 and 56.5 million sq. ft. completed in 2019. 70.2 million sq. ft. is underway with 31.4% pre-leased.

• The Midwest markets posted 26.3 million sq. ft. of industrial lease and sale activity in Q1 2020, 58.9% of which was new leasing activity.