The
year 2013 was about concrete evidence. Over 2,300,000 sq. ft. of
warehouse space was delivered to the market in comparison to 2012 where
only 538,000 sq. ft. was delivered. In addition, there is 1,600,000 sq.
ft. now under construction. Although new space was added to our 229M sq.
ft. of total inventory, the vacancy rate still declined to 6.3%.
Positive absorption of 2,700,000 sq. ft. outpaced the newly constructed
deliveries. These are all indicators of a very healthy market.
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