• Direct vacancy at 5.3% in H1 2020 was stable compared to H2 2019, but increased by 92 bps year-over-year.
  • Negative net absorption of 2,915 sq. ft. was recorded in H1 2020, up compared to H2 2019 when negative 31,000 sq. ft. of net absorption was posted. 
  • Construction activity picked up in 2020 with 170,043 sq. ft. underway at the end of Q2 2020.
  • The overall average asking lease rate declined slightly from $16.00 per sq. ft. NNN in H2 2019 to $15.91 per sq. ft. NNN in H1 2020.
  • Investment sales volume dipped to $39.5 million in H1 2020 with the average price per sq. ft. reaching a record high of $232.