Over 916,000 sq. ft. of positive net absorption was recorded in Q4 2019—the 39th consecutive quarter of positive net absorption.
The overall average achieved lease rate for 2019 rose 6.9% year-over-year to $7.75 per sq. ft. NNN.
The overall average direct asking lease rate increased 1.0% year-over-year to $8.24 per sq. ft. NNN in Q4 2019.
Direct vacancy increased 72 basis points (bps) year-over-year to 6.6%.•In 2019, 35 buildings delivered totaling 5.0 million sq. ft. Construction activity remained strong in Q4 2019 with 6.5 million sq. ft. underway.