Market Downturn Persists
At mid-year 2009, the industrial market posted six months of accumulated negative net absorption of 314,091 square feet. Vacancy rates rose to 5.13% from 4.36% at year-end 2008. After a dramatic loss of occupancy totalling 293,572 square feet during the first quarter of 2009, the second quarter posted a only an additional 20,519 square feet of increased vacancy. Click here to read the full briefing.