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National Market Reports

National Office Market

3Q18 National Market Reports

The U.S. office market tightened during the second quarter of 2019. Absorption accelerated slightly compared with the nation's performance last quarter and was up moderately over second quarter 2018. Asking rents rose 3.2% compared with the second quarter of 2018, while vacancy declined 50 basis points over the past 12 months. Approximately 11.9 million square feet of new product delivered during the second quarter of 2019. The construction pipeline has reached its highest level of the cycle and is an indicator to watch during the balance of the year. However, overall market conditions suggest the cyclical expansion will continue at least through the end of 2019.

Average Asking Rent (Price/SF)                 $28.98
Vacancy Rate (%)                   12.9%
Net Absorption (SF)         10,223,237

National Industrial Market

National Industrial Market

The U.S. industrial market displayed strong fundamentals during the first half of 2019, with rising asking rents and the lowest vacancy rate among all primary commercial asset classes. While absorption slowed in the second quarter due to a lack of available product, leasing velocity remains high. Industrial space under construction reached a new cyclical high, as developers seek to capitalize on the consistently sturdy returns of the industrial asset class.

Average Asking Rent (Price/SF)                $7.37
Vacancy Rate (%)                  5.1%
Net Absorption (SF)     26,359,482


National Office Market Report
2Q19
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National Industrial Market Report
2Q19
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