• Tenant activity in the Tucson industrial market increased in the second quarter of 2019 and overall fundamentals showed signs of continual improvement.
  • Vacancy edged down 26 basis points (bps) quarter over quarter to 7.2%. One year ago, the vacancy rate was 7.8%.
  • Metro Tucson’s net absorption totaled 98,735 sq. ft. during Q2 2019, which marked the eighth consecutive quarter of positive net absorption.
  • Tucson’s average asking lease rate increased 6.3% over the last 12 months to $0.51 per sq. ft. NNN in Q2 2019.
  • While no new inventory was delivered during Q2 2019, developers were active with 1,175,720 sq. ft. of industrial space under construction.