•The overall availability rate compressed to 2.8% in Q3 amidst a return of pre-COVID levels of activity.

•Q3 brought 1.1 million sq. ft. of positive net absorption; totaling slightly above the 1.0 million sq. ft. average over the past 28-quarter run.

•Strong leasing velocity of the last few years has resulted in prime logistics warehouse space becoming increasingly difficult to find.