COVID 19

"The availability rate for Q1, only 40 basis points (bps) below the highest level the market has ever seen remained elevated"

"Rates will continue to rise boosted by higher asking rents for new construction ($7.00 to $8.00 per square foot, NNN)."

"New construction continues to command top dollar ($8.50 to$9.50 per square foot, NNN) as owners need to offset higher material costs and surging land prices."

"Vacancy continues to decline as quarterly leasing activity almost doubled year-over-year. With demand for larger spaces and company relocations, pre-leasing activity has trended upward across the market."

"A shortage of industrial space persists even as 11.2 million square feet (msf) of construction activity underway aims to provide tenants more options."

"The Phoenix industrial market continues to be one of the hottest in the country with a record amount of product under construction and asking rental rates at all-time highs."

"Despite uncertainty, Phoenix office market shows signs of demand increase"

"Savills Q1 2022 U.S. Industrial Market Update reports steep vacancy declines and rent spikes with record new development on the way "

"Suburban Chicago market fundamentals show tepid improvement in the face of uncertain demand"

"Denver office market approaches a sense of normalcy as deal volumes rebound to pre-pandemic levels"