• In line with the 3.5% increase in quarterly net absorption, annual absorption activity reached over 3.5 million sq. ft.—up 19.1% year-over-year.
  • The overall average achieved lease rate for Q4 2020 fell $0.54 year-over-year to $7.21 per sq. ft. NNN.
  • The overall average direct asking lease rate rose $0.60 year-over-year to $8.84 per sq. ft. NNN in Q4 2020.
  • Direct vacancy climbed 26 bps quarter-over-quarter to 7.5%, while total availability increased by 20 bps to 10.7% in Q4 2020.
  • Eight buildings comprising over 1.0 million sq. ft. delivered in Q4 2020 as construction activity reached new highs with 8.2 million sq. ft. underway—the highest total in over 20 years.
  • Annual investment sale volume totaled $1.4 billion in 2020, up 16.0% year-over-year.