Newmark：2025年第二季度凤凰工业市场报告

Quarterly net absorption was 5.7 MSF versus 3.3 MSF in construction deliveries. New supply additions are slowing as the construction pipeline empties. In a welcome change, total vacancy fell for the first time in seven quarters to reach 13.0%, down 13.7% from last quarter. Available sublease space increased, however, by 2.3% over the same period, to settle at 8.4 MSF. Under-construction activity decreased for the sixth consecutive quarter; 12.6 MSF is presently underway. Although construction