Industrial Mid-Year Report Q2 2020

Industrial Insider Mid-Year Report

OVERALL NET ABSORPTION UNDER CONSTRUCTION 2.3MSF 12.4% 450 KSF 616 KSF OVERALL VACANCY COMPLETIONS

MARKET SUMMARY

2012 2013 2014 2015 2016 2017 2018 2019 YTD 2020

23.1

24.3

28.2

33.9

37.8

45.1

53.9

57.0

57.4

Inventory (MSF)

Overall Net Absorption (MSF)

2.2

736,902

1.9

5.2

4.2

3.2

6.4

5.6

2.3

7.9% 9.3% 15.3% 14.3% 12.2% 19.2% 20.4% 15.5% 12.4%

Overall Vacancy

1.0

1.2

3.9

5.7

3.9

7.3

8.8

2.7

450,000

Completions (MSF)

Under Construction (MSF)

653,582

2.8

5.4

5.4

7.4

7.4

1.3

450,000 616,043

COMPLETIONS / NET ABSORPTIONS

VACANCY

HISTORICAL AVERAGE = 15.3%

NET ABSORPTION / COMPLETIONS

Historical Average = 15.3%

10.0

25.0%

9.0

8.0

20.0%

7.0

6.0

15.0%

5.0

Millions

4.0

10.0%

3.0

5.0%

2.0

1.0

0.0%

0.0

2012

2013

2014

2015

2016

2017

2018

2019 YTD 2020

2012

2013

2014

2015

2016

2017

2018

2019 YTD 2020

OVERALL NET ABSORPTION COMPLETIONS

OVERALL VACANCY RATE

HISTORICAL AVERAGE

Q2 2020

91