The vacancy rate was down over the previous quarter, with net absorption totaling positive 2,189,539 square feet in the third quarter. Vacant sublease space decreased in the quarter, ending the quarter at 1,109,216 square feet. Rental rates ended the third quarter at $4.83, a decrease over the previous quarter.
This trend is compared to the U.S. national industrial vacancy rate, which decreased to 9.6% from the previous quarter, with net absorption positive 43.11 million square feet in the third quarter.
