C&W Industrial Insider Year-End Report_Q4-2018

Industrial Insider Year-End Report

MARKET SUMMARY

2010 2011

2012 2013 2014 2015 2016 2017 2018

21.0

22.1

23.1

24.3

28.2

33.9

37.8

45.1

53.9

Inventory (MSF)

Overall Net Absorption (MSF)

925,001

1.6

2.2

736,902

1.9

5.2

4.2

3.2

6.4

17.0% 13.5% 7.9% 9.3% 15.3% 14.3% 12.2% 19.2% 20.4%

Overall Vacancy

32,400

1.1

1.0

1.2

3.9

5.7

3.9

7.3

8.8

Completions (MSF)

Under Construction (MSF)

1.1

1.0

653,582

2.8

5.4

5.4

7.4

7.4

1.3

COMPLETIONS / NET ABSORPTIONS

VACANCY

NET ABSORPTION / COMPLETIONS

Historical Average = 14.3%

2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0

25.0%

HISTORICAL AVERAGE = 14.3%

20.0%

15.0%

Millions

10.0%

5.0%

0.0 1.0

0.0%

Q4 2012 Q4 2013 Q4 2014 Q4 2015 Q4 2016 Q4 2017 Q4 2018

2012 2013 2014 2015 2016 2017 2018

OVERALL NET ABSORPTION COMPLETIONS

OVERALL VACANCY RATE

Q4 2018

77