AUSTIN INDUSTRIAL OVERVIEW 4Q 2016
AQUILA KNOWS AUSTIN KEEPING YOU INFORMED
Leigh Ellis
Lead Industrial Broker 512 684-3802 ellis@aquilacommercial.com
Clayton Schleimer
Market Research Coordinator 512 684-3809 schleimer@aquilacommercial.com
AQUILA Commercial is dedicated to providing
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CONTENTS Citywide Warehouse Performance
4
Citywide Flex/R&D Performance
7
Citywide Total Industrial Performance
10
North Submarket Warehouse Performance
14
North Submarket Flex/R&D Performance
15
North Submarket Total Industrial Performance
16
Southeast Submarket Warehouse Performance
17
Southeast Submarket Flex/R&D Performance
18
Southeast Submarket Total Industrial Performance
19
Northeast Submarket Warehouse Performance
20
Northeast Submarket Flex/R&D Performance
21
Northeast Submarket Total Industrial Performance
22
Round Rock & Georgetown Submarket Warehouse Performance
23
Round Rock & Georgetown Submarket Flex/R&D Performance
24
Round Rock & Georgetown Submarket Total Industrial Performance
25
Far Northeast Submarket Warehouse Performance
26
Far Northeast Submarket Flex/R&D Performance
27
Far Northeast Submarket Total Industrial Performance
28 Austin Industrial Submarket Map
CITYWIDE WAREHOUSE PERFORMANCE VACANCY RATES
AVERAGE ASKING NNN
Round Rock & Far Northeast Georgetown
Quarter
North
Southeast
Northeast
2015 Q1
8.2%
4.2%
12.7%
15.6%
2015 Q2
7.8%
6.6%
9.4%
2015 Q3
5.5%
7.0%
7.5%
Round Rock & Far Northeast Georgetown
Citywide
Quarter
North
Southeast
Northeast
12.0%
9.4%
2015 Q1
$0.57
$0.45
$0.66
$0.51
$0.54
$0.55
12.2%
8.9%
8.9%
2015 Q2
$0.51
$0.56
$0.63
$0.52
$0.50
$0.60
12.1%
8.6%
7.1%
2015 Q3
$0.71
$0.56
$0.62
$0.57
$0.57
$0.63
2015 Q4
$0.84
$0.56
$0.65
$0.58
$0.55
$0.67
2015 Q4
5.0%
5.4%
7.3%
9.6%
8.6%
6.3%
2016 Q1
5.3%
1.7%
6.9%
9.9%
8.1%
5.7%
2016 Q1
$0.59
$0.57
$0.67
$0.53
$0.56
$0.64
2016 Q2
5.3%
2.2%
4.8%
5.6%
6.7%
5.1%
2016 Q2
$0.57
$0.59
$0.69
$0.64
$0.70
$0.66
2016 Q3
3.8%
3.6%
5.2%
5.0%
9.3%
4.7%
2016 Q3
$0.63
$0.58
$0.74
$0.66
$0.71
$0.73
2016 Q4
5.3%
5.4%
6.3%
6.3%
11.5%
6.0%
2016 Q4
$0.60
$0.61
$0.67
$0.69
$0.54
$0.70
Numbers based on CBRE statistics
Numbers based on CBRE statistics $1.00
20%
$0.85 Average Asking NNN
15% Vacancy Rate
Citywide
10%
5%
0%
$0.70 $0.55 $0.40 $0.25
2015 Q1
2015 Q2
2015 Q3
2015 Q4
2016 Q1
2016 Q2
2016 Q3
2016 Q4
2015 Q1
2015 Q2
2015 Q3
2015 Q4
2016 Q1
2016 Q2
North
Southeast
Northeast
North
Southeast
Northeast
Round Rock & Georgetown
Far Northeast
Citywide
Round Rock & Georgetown
Far Northeast
Citywide
2016 Q3
2016 Q4
4
4
CITYWIDE WAREHOUSE PERFORMANCE AVAILABLE SF
ABSORPTION
Round Rock & Far Northeast Georgetown
Quarter
North
Southeast
Northeast
2015 Q1
779,087
231,142
540,888
433,927
2015 Q2
742,129
373,605
410,356
2015 Q3
521,887
396,993
2015 Q4
479,847
316,245
Round Rock & Far Northeast Georgetown
Citywide
Quarter
North
Southeast
Northeast
Citywide
260,626
2,911,198
2015 Q1
102,955
67,454
62,005
5,300
(27,877)
192,279
341,296
194,903
2,762,216
2015 Q2
36,958
(52,487)
220,132
92,631
65,723
328,558
326,398
336,296
187,850
2,212,294
2015 Q3
220,242
(23,388)
83,958
5,000
7,053
549,922
319,624
258,907
187,850
1,975,254
2015 Q4
42,040
319,953
6,774
(3,625)
0
557,701
2016 Q1
505,200
100,989
299,209
268,907
177,286
1,797,504
2016 Q1
(25,353)
83,430
20,415
(10,000)
10,564
46,194
2016 Q2
500,461
131,410
208,257
151,909
146,850
1,614,126
2016 Q2
5,736
(30,421)
90,952
116,998
30,436
167,260
2016 Q3
361,161
219,282
224,819
136,202
218,363
1,503,860
2016 Q3
139,300
(7,872)
(16,562)
15,707
71,513
190,266
2016 Q4
507,805
331,102
276,232
170,809
270,237
1,923,934
2016 Q4
(133,294)
31,780
(51,413)
(28,612)
126,496
32,541
Numbers based on CBRE statistics
Numbers based on CBRE statistics 600,000
3,500,000
500,000
3,000,000
400,000 Absorption (SF)
Available SF
2,500,000 2,000,000 1,500,000 1,000,000
North
200,000 100,000 0 (100,000)
500,000 0
300,000
(200,000) 2015 Q1 Southeast
2015 Q2
2015 Q3
Northeast
2015 Q4
2016 Q1
Round Rock & Georgetown
2016 Q2
2016 Q3
Far Northeast
2016 Q4
Citywide
(300,000) North
2015 Q1 Southeast
2015 Q2
2015 Q3
Northeast
2015 Q4
2016 Q1
Round Rock & Georgetown
2016 Q2
2016 Q3
Far Northeast
2016 Q4
Citywide
5
5
CITYWIDE WAREHOUSE PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
30,974,357
2,911,198
9.4%
192,279
$0.55
2015 Q2
31,153,933
2,762,216
8.9%
328,558
$0.60
2015 Q3
31,153,933
2,212,294
7.1%
549,922
$0.63
2015 Q4
31,474,594
1,975,254
6.3%
557,701
$0.67
2016 Q1
31,474,594
1,797,504
5.7%
46,194
$0.64
2016 Q2
31,474,594
1,614,126
5.1%
167,260
$0.66
2016 Q3
31,846,782
1,503,860
4.7%
190,266
$0.73
2016 Q4
31,846,398
1,923,934
6.0%
32,541
$0.70
Numbers based on CBRE statistics
VACANCY VS. RENTAL RATES 96%
$0.75
12%
500,000
94%
25,000,000
10%
$0.70
10%
400,000
92%
20,000,000
8%
$0.65
8%
15,000,000
6%
300,000
90% 88%
6%
4%
200,000
$0.60
10,000,000 5,000,000
2%
100,000
86%
$0.55
4%
0%
0
-
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
84%
Average Asking NNN
600,000
12%
Occupancy Rate
14%
30,000,000
Absorption (SF)
35,000,000
$0.50
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
NET ABSORPTION
Vacancy Rate
Available SF
AVAILABLE SF VS. VACANCY RATE
2%
Vacancy Rate
6
CITYWIDE FLEX/R&D PERFORMANCE VACANCY RATES
AVERAGE ASKING NNN
Round Rock & Far Northeast Georgetown
Quarter
North
Southeast
Northeast
2015 Q1
7.5%
14.8%
11.1%
2.6%
2015 Q2
8.4%
9.5%
3.4%
2015 Q3
9.5%
9.2%
2015 Q4
9.1%
11.9%
Round Rock & Far Northeast Georgetown
Citywide
Quarter
North
Southeast
Northeast
11.4%
12.3%
2015 Q1
$0.93
$0.87
$0.73
N/A
$0.91
$0.93
1.4%
8.0%
9.8%
2015 Q2
$0.94
$0.86
$0.67
N/A
$0.89
$0.95
1.9%
2.1%
8.9%
9.6%
2015 Q3
$1.01
$0.76
$0.81
N/A
$0.82
$0.91
2.7%
8.8%
7.3%
10.8%
2015 Q4
$1.10
$0.77
$0.63
N/A
$1.05
$0.91
2016 Q1
7.4%
10.1%
2.2%
7.6%
2.1%
9.5%
2016 Q1
$1.08
$0.83
$0.73
N/A
$1.00
$1.01
2016 Q2
6.5%
9.7%
3.2%
6.9%
2.1%
9.4%
2016 Q2
$1.11
$0.98
$0.76
N/A
$1.00
$1.04
2016 Q3
7.0%
7.1%
2.3%
6.8%
3.4%
7.3%
2016 Q3
$1.01
$1.07
$0.80
N/A
$0.96
$1.03
2016 Q4
9.5%
6.9%
2.8%
7.2%
2.2%
9.4%
2016 Q4
$1.03
$0.98
$0.85
N/A
$0.90
$1.02
Numbers based on CBRE statistics
Numbers based on CBRE statistics $1.25
20%
$1.10 Average Asking NNN
15% Vacancy Rate
Citywide
10%
5%
$0.95
$0.80
$0.65 0% 2015 Q1
2015 Q2
2015 Q3
2015 Q4
2016 Q1
2016 Q2
North
Southeast
Northeast
Round Rock & Georgetown
Far Northeast
Citywide
2016 Q3
2016 Q4
$0.50 2015 Q1 North
2015 Q2
2015 Q3
Southeast
2015 Q4 Northeast
2016 Q1
2016 Q2
Far Northeast
2016 Q3
2016 Q4
Citywide
7
7
CITYWIDE FLEX/R&D PERFORMANCE AVAILABLE SF
ABSORPTION
Round Rock & Far Northeast Georgetown
Quarter
North
Southeast
Northeast
2015 Q1
332,884
688,992
395,916
44,074
2015 Q2
370,729
426,198
111,348
2015 Q3
419,138
409,691
2015 Q4
403,728
548,554
Round Rock & Far Northeast Georgetown
Citywide
Quarter
North
Southeast
Northeast
Citywide
34,134
2,332,054
2015 Q1
1,285
(85,482)
31,812
6,476
(9,684)
(56,477)
23,391
23,812
1,799,903
2015 Q2
(37,845)
89,994
(28,039)
20,683
10,322
46,744
61,317
37,049
26,434
1,763,624
2015 Q3
(48,409)
16,507
50,031
(13,658)
(2,622)
36,279
87,702
156,803
21,684
2,018,081
2015 Q4
15,410
21,137
(26,385)
(56,000)
4,750
(30,703)
2016 Q1
325,936
467,022
72,869
135,918
6,184
1,765,599
2016 Q1
(60,225)
81,532
14,833
20,885
15,500
234,915
2016 Q2
287,283
450,245
105,039
128,096
6,184
1,754,791
2016 Q2
38,653
16,777
(32,170)
7,822
0
10,808
2016 Q3
308,614
328,753
75,026
125,031
10,284
1,359,761
2016 Q3
(21,331)
121,499
30,013
3,065
(4,100)
395,037
2016 Q4
422,688
318,156
90,443
133,376
6,600
1,748,588
2016 Q4
(89,753)
10,590
26,271
(8,345)
14,062
395,037
Numbers based on CBRE statistics
Numbers based on CBRE statistics
2,500,000
500,000 400,000
2,000,000 Absorption (SF)
Available SF
300,000 1,500,000
1,000,000
200,000 100,000 0
500,000
(100,000)
0 2015 Q1 North
Southeast
2015 Q2
2015 Q3
Northeast
2015 Q4
2016 Q1
Round Rock & Georgetown
2016 Q2
2016 Q3
Far Northeast
2016 Q4
Citywide
(200,000) North
2015 Q1 Southeast
2015 Q2
2015 Q3
Northeast
2015 Q4
2016 Q1
Round Rock & Georgetown
2016 Q2
2016 Q3
Far Northeast
2016 Q4
Citywide
8
8
CITYWIDE FLEX/R&D PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
18,884,797
2,332,054
12.3%
(56,477)
$0.93
2015 Q2
18,399,390
1,799,903
9.8%
46,744
$0.95
2015 Q3
18,399,390
1,763,624
9.6%
36,279
$0.91
2015 Q4
18,623,144
2,018,081
10.8%
(30,703)
$0.91
2016 Q1
18,623,144
1,765,599
9.5%
234,915
$1.01
2016 Q2
18,683,644
1,754,791
9.4%
10,808
$1.04
2016 Q3
18,683,644
1,359,761
7.3%
395,037
$1.03
2016 Q4
18,676,670
1,748,588
9.4%
395,037
$1.02
Numbers based on CBRE statistics
NET ABSORPTION $1.10
17%
16,000,000
12%
95%
$1.00
15%
12,000,000
9%
300,000
93%
$0.90
13%
200,000
91%
$0.80
11%
$0.70
9%
$0.60
7%
8,000,000
6%
100,000
89%
4,000,000
3%
0
87%
0%
(100,000)
-
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
85%
Average Asking NNN
97%
400,000
Occupancy Rate
500,000
Absorption (SF)
15%
Vacancy Rate
Available SF
20,000,000
VACANCY VS. RENTAL RATES
$0.50
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
AVAILABLE SF VS. VACANCY RATE
5%
Vacancy Rate
9
CITYWIDE TOTAL INDUSTRIAL PERFORMANCE VACANCY RATES
AVERAGE ASKING NNN
Round Rock & Far Northeast Georgetown
Quarter
North
Southeast
Northeast
2015 Q1
8.0%
9.0%
12.0%
10.6%
2015 Q2
8.0%
7.9%
6.9%
2015 Q3
6.8%
8.0%
2015 Q4
6.3%
8.2%
Round Rock & Far Northeast Georgetown
Citywide
Quarter
North
Southeast
Northeast
Citywide
11.9%
10.5%
2015 Q1
$0.82
$0.68
$0.69
$0.57
$0.65
$0.73
8.1%
8.8%
9.2%
2015 Q2
$0.74
$0.79
$0.64
$0.56
$0.58
$0.76
5.1%
8.3%
8.7%
8.0%
2015 Q3
$0.98
$0.68
$0.68
$0.63
$0.62
$0.76
5.4%
9.2%
8.5%
8.0%
2015 Q4
$1.07
$0.68
$0.64
$0.61
$0.62
$0.80
2016 Q1
6.0%
5.4%
4.9%
9.0%
7.4%
7.1%
2016 Q1
$0.95
$0.73
$0.68
$0.68
$0.60
$0.83
2016 Q2
5.7%
5.5%
4.1%
6.1%
6.2%
6.7%
2016 Q2
$0.91
$0.84
$0.72
$0.82
$0.71
$0.87
2016 Q3
4.8%
5.1%
3.9%
5.7%
8.7%
5.7%
2016 Q3
$0.83
$0.81
$0.75
$0.82
$0.73
$0.88
2016 Q4
6.7%
6.1%
4.8%
6.7%
10.5%
7.3%
2016 Q4
$0.82
$0.79
$0.73
$0.85
$0.54
$0.85
Numbers based on CBRE statistics
Numbers based on CBRE statistics
15%
$1.15
Average Asking NNN
Vacancy Rate
$1.00 10%
5%
$0.85 $0.70 $0.55 $0.40 $0.25
0% 2015 Q1
2015 Q2
2015 Q3
2015 Q4
2016 Q1
2016 Q2
2016 Q3
2016 Q4
2015 Q1
2015 Q2
2015 Q3
2015 Q4
2016 Q1
2016 Q2
North
Southeast
Northeast
North
Southeast
Northeast
Round Rock & Georgetown
Far Northeast
Citywide
Round Rock & Georgetown
Far Northeast
Citywide
2016 Q3
2016 Q4
10
10
CITYWIDE TOTAL INDUSTRIAL PERFORMANCE AVAILABLE SF
ABSORPTION
Round Rock & Far Northeast Georgetown
Quarter
North
Southeast
Northeast
2015 Q1
1,111,971
920,134
936,804
478,001
2015 Q2
1,112,858
799,803
521,704
2015 Q3
941,025
806,684
2015 Q4
883,575
864,799
Round Rock & Far Northeast Georgetown
Citywide
Quarter
North
Southeast
Northeast
Citywide
294,760
5,243,252
2015 Q1
104,240
(18,028)
93,817
11,776
(37,561)
135,802
364,687
218,715
4,562,119
2015 Q2
(887)
37,507
192,093
113,314
76,045
375,302
387,715
373,345
214,284
3,975,918
2015 Q3
171,833
(6,881)
133,989
(8,658)
4,431
586,201
407,326
415,710
209,534
3,993,335
2015 Q4
57,450
341,090
(19,611)
(59,625)
4,750
526,998
2016 Q1
831,136
568,011
372,078
404,825
183,470
3,563,103
2016 Q1
(85,578)
164,962
35,248
10,885
26,064
281,109
2016 Q2
787,744
581,655
313,296
280,005
153,034
3,368,917
2016 Q2
44,389
(13,644)
58,782
124,820
30,436
178,068
2016 Q3
669,775
548,035
299,845
261,233
228,647
2,863,621
2016 Q3
117,969
113,627
13,451
18,772
67,413
585,303
2016 Q4
930,493
649,258
366,675
304,185
276,837
3,672,522
2016 Q4
(223,047)
42,370
(25,142)
(36,957)
140,558
427,578
Numbers based on CBRE statistics
Numbers based on CBRE statistics 700,000
6,000,000
600,000 5,000,000
500,000 400,000 Absorption (SF)
Available SF
4,000,000 3,000,000 2,000,000
300,000 200,000 100,000 0 (100,000) (200,000)
1,000,000
(300,000) 0 North
2015 Q1 Southeast
2015 Q2
2015 Q3
Northeast
2015 Q4
2016 Q1
Round Rock & Georgetown
2016 Q2
2016 Q3
Far Northeast
2016 Q4
Citywide
(400,000) North
2015 Q1 Southeast
2015 Q2
2015 Q3
Northeast
2015 Q4
2016 Q1
Round Rock & Georgetown
2016 Q2
2016 Q3
Far Northeast
2016 Q4
Citywide
11
11
CITYWIDE TOTAL INDUSTRIAL PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
49,859,154
5,243,252
10.5%
135,802
$0.73
2015 Q2
49,553,323
4,562,119
9.2%
375,302
$0.76
2015 Q3
49,553,323
3,975,918
8.0%
586,201
$0.76
2015 Q4
50,097,738
3,993,335
8.0%
526,998
$0.80
2016 Q1
50,097,738
3,563,103
7.1%
281,109
$0.83
2016 Q2
50,158,238
3,368,917
6.7%
178,068
$0.87
2016 Q3
50,530,426
2,863,621
5.7%
585,303
$0.88
2016 Q4
50,523,068
3,672,522
7.3%
427,578
$0.85
Numbers based on CBRE statistics
40,000,000
12%
30,000,000
9%
20,000,000
6%
10,000,000
3%
-
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0%
800,000
96%
600,000
93%
400,000
90%
200,000
87%
0
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
84%
$1.00
20%
$0.80
16%
$0.60
12%
$0.40
8%
$0.20
4%
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
15%
Average Asking NNN
18%
50,000,000
VACANCY VS. RENTAL RATES
Occupancy Rate
60,000,000
Absorption (SF)
NET ABSORPTION
Vacancy Rate
Available SF
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
12
CITYWIDE TOTAL INDUSTRIAL CONSTRUCTION Quarter
North
Southeast
Northeast
Round Rock & Georgetown
Far Northeast
Citywide
2015 Q1
-
239,205
90,331
30,000
-
359,536
2015 Q2
-
399,000
-
167,000
153,000
719,000
2015 Q3
-
399,000
-
167,000
153,000
719,000
2015 Q4
-
265,600
-
-
153,000
418,600
2016 Q1
-
265,600
-
-
153,000
418,600
2016 Q2
-
888,271
-
-
153,000
1,041,271
2016 Q3
80,340
680,271
240,821
-
71,200
1,090,512
2016 Q4
80,340
1,047,470
240,821
-
71,200
1,661,031
Numbers based on CBRE statistics
1,800,000
SF Under Construction
1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 North
2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1 2016 Q2 2016 Q3 2016 Q4 Southeast
Northeast
Round Rock & Georgetown
Far Northeast
Citywide 13
NORTH WAREHOUSE PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
9,506,094
779,087
8.2%
102,955
$0.57
2015 Q2
9,506,094
742,129
7.8%
36,958
$0.51
2015 Q3
9,506,094
521,887
5.5%
220,242
$0.71
2015 Q4
9,506,094
479,847
5.0%
42,040
$0.84
2016 Q1
9,506,094
505,200
5.3%
(25,353)
$0.59
2016 Q2
9,506,094
500,461
5.3%
5,736
$0.57
2016 Q3
9,506,094
361,161
3.8%
139,300
$0.63
2016 Q4
9,506,094
507,805
5.3%
(133,294)
$0.60
Numbers based on CBRE statistics
2%
2,000,000
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0%
250,000
97%
200,000
96%
150,000
95%
100,000
94%
50,000
93%
0
92%
(50,000)
91%
(100,000)
90%
(150,000)
89%
(200,000)
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
88%
$1.00
10%
$0.80
8%
$0.60
6%
$0.40
4%
$0.20
2%
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
4%
4,000,000
Absorption (SF)
Available SF
6%
6,000,000
Vacancy Rate
8%
8,000,000
VACANCY VS. RENTAL RATES
Average Asking NNN
10%
10,000,000
-
NET ABSORPTION
Occupancy Rate
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
14
NORTH FLEX/R&D PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
4,433,364
332,884
7.5%
1,285
$0.93
2015 Q2
4,433,364
370,729
8.4%
(37,845)
$0.94
2015 Q3
4,433,364
419,138
9.5%
(48,409)
$1.01
2015 Q4
4,433,364
403,728
9.1%
15,410
$1.10
2016 Q1
4,433,364
325,936
7.4%
(60,225)
$1.08
2016 Q2
4,433,364
287,283
6.5%
38,653
$1.11
2016 Q3
4,433,364
308,614
7.0%
(21,331)
$1.01
2016 Q4
4,469,357
422,688
9.5%
(89,753)
$1.03
Numbers based on CBRE statistics
3,000,000
9%
2,000,000
6%
1,000,000 -
3%
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0%
60,000
95%
40,000
94%
20,000
93%
0
92%
(20,000)
91%
(40,000)
90%
(60,000)
89%
(80,000) (100,000)
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
88%
$1.25
15%
$1.00
12%
$0.75
9%
$0.50
6%
$0.25
3%
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
12%
VACANCY VS. RENTAL RATES
Average Asking NNN
4,000,000
Absorption (SF)
15%
Vacancy Rate
Available SF
5,000,000
NET ABSORPTION
Occupancy Rate
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
15
NORTH TOTAL INDUSTRIAL PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
13,939,458
1,111,971
8.0%
104,240
$0.82
2015 Q2
13,939,458
1,112,858
8.0%
(887)
$0.74
2015 Q3
13,939,458
941,025
6.8%
171,833
$0.98
2015 Q4
13,939,458
883,575
6.3%
57,450
$1.07
2016 Q1
13,939,458
831,136
6.0%
(85,578)
$0.95
2016 Q2
13,939,458
787,744
5.7%
44,389
$0.91
2016 Q3
13,939,458
669,775
4.8%
117,969
$0.83
2016 Q4
13,975,451
930,493
6.7%
(223,047)
$0.82
Numbers based on CBRE statistics
12%
9,000,000
9%
6,000,000
6%
3,000,000
3%
-
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0%
97%
150,000
96%
100,000
95%
50,000
94%
0
93%
(50,000)
92%
(100,000)
91%
(150,000)
90%
(200,000)
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
89%
$1.25
15%
$1.00
12%
$0.75
9%
$0.50
6%
$0.25
3%
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
12,000,000
200,000
Average Asking NNN
15%
VACANCY VS. RENTAL RATES
Occupancy Rate
15,000,000
Absorption (SF)
NET ABSORPTION
Vacancy Rate
Available SF
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
16
SOUTHEAST WAREHOUSE PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
5,569,686
231,142
4.2%
67,454
$0.45
2015 Q2
5,659,662
373,605
6.6%
(52,487)
$0.56
2015 Q3
5,659,662
396,993
7.0%
(23,388)
$0.56
2015 Q4
5,898,867
316,245
5.4%
319,953
$0.56
2016 Q1
5,898,867
100,989
1.7%
83,430
$0.57
2016 Q2
5,898,867
131,410
2.2%
(30,421)
$0.59
2016 Q3
6,092,467
219,282
3.6%
(7,872)
$0.58
2016 Q4
6,092,467
331,102
5.4%
31,780
$0.61
Numbers based on CBRE statistics
VACANCY VS. RENTAL RATES 99%
$0.70
14%
300,000
98%
$0.60
12%
5,000,000
10%
$0.50
10%
4,000,000
8%
$0.40
8%
3,000,000
6%
$0.30
6%
2,000,000
4%
$0.20
4%
1,000,000
2%
$0.10
2%
-
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0%
200,000
97%
100,000
96%
0
95%
(100,000)
94%
(200,000)
93%
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
Average Asking NNN
400,000
12%
Occupancy Rate
14%
6,000,000
Absorption (SF)
7,000,000
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
NET ABSORPTION
Vacancy Rate
Available SF
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
17
SOUTHEAST FLEX/R&D PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
4,640,678
688,992
14.8%
(85,482)
$0.87
2015 Q2
4,467,878
426,198
9.5%
89,994
$0.86
2015 Q3
4,467,878
409,691
9.2%
16,507
$0.76
2015 Q4
4,627,878
548,554
11.9%
21,137
$0.77
2016 Q1
4,627,878
467,022
10.1%
81,532
$0.83
2016 Q2
4,627,878
450,245
9.7%
16,777
$0.98
2016 Q3
4,627,878
328,753
7.1%
121,499
$1.07
2016 Q4
4,627,878
318,156
6.9%
10,590
$0.98
Numbers based on CBRE statistics
12%
2,000,000
8%
1,000,000
4%
-
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0%
160,000
94%
120,000
92%
80,000
90%
40,000
88%
0
86%
(40,000)
84%
(80,000)
82%
(120,000)
80%
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
$1.20
24%
$1.00
20%
$0.80
16%
$0.60
12%
$0.40
8%
$0.20
4%
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
3,000,000
VACANCY VS. RENTAL RATES
Average Asking NNN
16% Absorption (SF)
4,000,000
Vacancy Rate
20%
5,000,000
Available SF
NET ABSORPTION
Occupancy Rate
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
18
SOUTHEAST TOTAL INDUSTRIAL PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
10,210,364
920,134
9.0%
(18,028)
$0.68
2015 Q2
10,127,540
799,803
7.9%
37,507
$0.79
2015 Q3
10,127,540
806,684
8.0%
(6,881)
$0.68
2015 Q4
10,526,745
864,799
8.2%
341,090
$0.68
2016 Q1
10,526,745
568,011
5.4%
164,962
$0.73
2016 Q2
10,526,745
581,655
5.5%
(13,644)
$0.84
2016 Q3
10,720,345
548,035
5.1%
113,627
$0.81
2016 Q4
10,720,345
649,258
6.1%
42,370
$0.79
Numbers based on CBRE statistics
VACANCY VS. RENTAL RATES 96%
$1.25
15%
300,000
94%
$1.00
12%
8,000,000
12%
200,000
92%
$0.75
9%
6,000,000
9%
4,000,000
6%
100,000
90%
$0.50
6%
2,000,000
3%
0
88%
$0.25
3%
0%
(100,000)
-
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
86%
Average Asking NNN
400,000
15%
Occupancy Rate
18%
10,000,000
Absorption (SF)
12,000,000
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
NET ABSORPTION
Vacancy Rate
Available SF
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
19
NORTHEAST WAREHOUSE PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
4,261,110
540,888
12.7%
62,005
$0.66
2015 Q2
4,350,710
410,356
9.4%
220,132
$0.63
2015 Q3
4,350,710
326,398
7.5%
83,958
$0.62
2015 Q4
4,350,710
319,624
7.3%
6,774
$0.65
2016 Q1
4,350,710
299,209
6.9%
20,415
$0.67
2016 Q2
4,350,710
208,257
4.8%
90,952
$0.69
2016 Q3
4,350,710
224,819
5.2%
(16,562)
$0.74
2016 Q4
4,350,326
276,232
6.3%
(51,413)
$0.67
Numbers based on CBRE statistics
4%
1,000,000
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0%
250,000
100%
200,000
96%
150,000
92%
100,000
88%
50,000
84%
0
80%
(50,000) (100,000)
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
76%
$1.00
20%
$0.80
16%
$0.60
12%
$0.40
8%
$0.20
4%
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
8%
2,000,000
Absorption (SF)
Available SF
12%
3,000,000
Vacancy Rate
16%
4,000,000
VACANCY VS. RENTAL RATES
Average Asking NNN
20%
5,000,000
-
NET ABSORPTION
Occupancy Rate
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
20
NORTHEAST FLEX/R&D PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
3,569,100
395,916
11.1%
31,812
$0.73
2015 Q2
3,256,493
111,348
3.4%
(28,039)
$0.67
2015 Q3
3,256,493
61,317
1.9%
50,031
$0.81
2015 Q4
3,256,493
87,702
2.7%
(26,385)
$0.63
2016 Q1
3,256,493
72,869
2.2%
14,833
$0.73
2016 Q2
3,256,493
105,039
3.2%
(32,170)
$0.76
2016 Q3
3,256,493
75,026
2.3%
30,013
$0.80
2016 Q4
3,213,526
90,443
2.8%
26,271
$0.85
Numbers based on CBRE statistics
VACANCY VS. RENTAL RATES
60,000
100%
15%
2,000,000
10%
1,000,000
5%
97%
40,000 Absorption (SF)
3,000,000
Vacancy Rate
Available SF
50,000 30,000
94%
20,000
91%
10,000
88%
0 (10,000)
85%
(20,000)
82%
(30,000) -
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0%
(40,000)
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
79%
Average Asking NNN
20%
Occupancy Rate
4,000,000
NET ABSORPTION $1.00
20%
$0.80
16%
$0.60
12%
$0.40
8%
$0.20
4%
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
21
NORTHEAST TOTAL INDUSTRIAL PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
7,830,210
936,804
12.0%
93,817
$0.69
2015 Q2
7,607,203
521,704
6.9%
192,093
$0.64
2015 Q3
7,607,203
387,715
5.1%
133,989
$0.68
2015 Q4
7,607,203
407,326
5.4%
(19,611)
$0.64
2016 Q1
7,607,203
372,078
4.9%
35,248
$0.68
2016 Q2
7,607,203
313,296
4.1%
58,782
$0.72
2016 Q3
7,607,203
299,845
3.9%
13,451
$0.75
2016 Q4
7,563,852
366,675
4.8%
(25,142)
$0.73
Numbers based on CBRE statistics
6,000,000
16%
4,500,000
12%
3,000,000
8%
1,500,000
4%
-
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0%
250,000
99%
200,000
96%
150,000
93%
100,000
90%
50,000
87%
0
84%
(50,000)
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
81%
$1.00
20%
$0.80
16%
$0.60
12%
$0.40
8%
$0.20
4%
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
20%
VACANCY VS. RENTAL RATES
Average Asking NNN
7,500,000
Absorption (SF)
24%
Vacancy Rate
Available SF
9,000,000
NET ABSORPTION
Occupancy Rate
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
22
ROUND ROCK & GEORGETOWN WAREHOUSE PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
2,786,319
433,927
15.6%
5,300
$0.51
2015 Q2
2,786,319
341,296
12.2%
92,631
$0.52
2015 Q3
2,786,319
336,296
12.1%
5,000
$0.57
2015 Q4
2,705,305
258,907
9.6%
(3,625)
$0.58
2016 Q1
2,705,305
268,907
9.9%
(10,000)
$0.53
2016 Q2
2,705,305
151,909
5.6%
116,998
$0.64
2016 Q3
2,705,305
136,202
5.0%
15,707
$0.66
2016 Q4
2,705,305
170,809
6.3%
(28,612)
$0.69
Numbers based on CBRE statistics
VACANCY VS. RENTAL RATES 96%
$1.00
20%
2,500,000
15%
120,000
93%
$0.80
16%
2,000,000
12%
80,000
90%
$0.60
12%
1,500,000
9%
1,000,000
6%
40,000
87%
$0.40
8%
500,000
3%
0
84%
$0.20
4%
-
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0%
(40,000)
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
81%
Average Asking NNN
160,000
Occupancy Rate
18%
Absorption (SF)
3,000,000
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
NET ABSORPTION
Vacancy Rate
Available SF
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
23
ROUND ROCK & GEORGETOWN FLEX/R&D PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
1,726,305
44,074
2.6%
6,476
N/A
2015 Q2
1,726,305
23,391
1.4%
20,683
N/A
2015 Q3
1,726,305
37,049
2.1%
(13,658)
N/A
2015 Q4
1,790,059
156,803
8.8%
(56,000)
N/A
2016 Q1
1,790,059
135,918
7.6%
20,885
N/A
2016 Q2
1,850,559
128,096
6.9%
7,822
N/A
2016 Q3
1,850,559
125,031
6.8%
3,065
N/A
2016 Q4
1,850,559
133,376
7.2%
(8,345)
N/A
Numbers based on CBRE statistics
VACANCY VS. RENTAL RATES
10%
40,000
99%
1,600,000
8%
20,000
96%
1,200,000
6%
0
93%
800,000
4%
400,000 -
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
Absorption (SF)
2,000,000
(20,000)
90%
2%
(40,000)
87%
0%
(60,000)
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Occupancy Rate
NET ABSORPTION
Vacancy Rate
Available SF
AVAILABLE SF VS. VACANCY RATE
[CHART NOT AVAILABLE DUE TO INCOMPLETE DATA]
84%
Occupancy Rate
24
ROUND ROCK & GEORGETOWN TOTAL INDUSTRIAL PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
4,512,624
478,001
10.6%
11,776
$0.57
2015 Q2
4,512,624
364,687
8.1%
113,314
$0.56
2015 Q3
4,512,624
373,345
8.3%
(8,658)
$0.63
2015 Q4
4,495,364
415,710
9.2%
(59,625)
$0.61
2016 Q1
4,495,364
404,825
9.0%
10,885
$0.68
2016 Q2
4,555,864
280,005
6.1%
124,820
$0.82
2016 Q3
4,555,864
261,233
5.7%
18,772
$0.82
2016 Q4
4,555,864
304,185
6.7%
(36,957)
$0.85
Numbers based on CBRE statistics
VACANCY VS. RENTAL RATES 99%
$1.00
20%
4,000,000
12%
100,000
96%
$0.80
16%
3,000,000
9%
50,000
93%
$0.60
12%
2,000,000
6%
0
90%
$0.40
8%
1,000,000
3%
(50,000)
$0.20
4%
0%
(100,000)
-
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
87%
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
84%
Average Asking NNN
150,000
Occupancy Rate
15%
Absorption (SF)
5,000,000
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
NET ABSORPTION
Vacancy Rate
Available SF
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
25
FAR NORTHEAST WAREHOUSE PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
2,178,152
260,626
12.0%
(27,877)
$0.54
2015 Q2
2,178,152
194,903
8.9%
65,723
$0.50
2015 Q3
2,178,152
187,850
8.6%
7,053
$0.57
2015 Q4
2,178,152
187,850
8.6%
0
$0.55
2016 Q1
2,178,152
177,286
8.1%
10,564
$0.56
2016 Q2
2,178,152
146,850
6.7%
30,436
$0.70
2016 Q3
2,340,622
218,363
9.3%
71,513
$0.71
2016 Q4
2,340,622
270,237
11.5%
126,496
$0.54
Numbers based on CBRE statistics
2,000,000
16%
120,000
1,500,000
12%
1,000,000
8%
500,000 -
4%
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0%
100% 96%
80,000 92% 40,000 88%
0 (40,000)
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
84%
Average Asking NNN
160,000
Occupancy Rate
20%
Absorption (SF)
2,500,000
VACANCY VS. RENTAL RATES $1.00
20%
$0.80
16%
$0.60
12%
$0.40
8%
$0.20
4%
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
NET ABSORPTION
Vacancy Rate
Available SF
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
26
FAR NORTHEAST FLEX/R&D PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
298,184
34,134
11.4%
(9,684)
$0.91
2015 Q2
298,184
23,812
8.0%
10,322
$0.89
2015 Q3
298,184
26,434
8.9%
(2,622)
$0.82
2015 Q4
298,184
21,684
7.3%
4,750
$1.05
2016 Q1
298,184
6,184
2.1%
15,500
$1.00
2016 Q2
298,184
6,184
2.1%
0
$1.00
2016 Q3
298,184
10,284
3.4%
(4,100)
$0.96
2016 Q4
298,184
6,600
2.2%
14,062
$0.90
Numbers based on CBRE statistics
20,000
100%
12%
15,000
98%
250,000
10%
10,000
96%
200,000
8%
5,000
94%
150,000
6%
100,000
4%
50,000 -
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0
92%
(5,000)
90%
2%
(10,000)
88%
0%
(15,000)
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
86%
$1.20
20%
$1.00
16%
$0.80
12%
$0.60
8%
$0.40
4%
$0.20
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
14%
300,000
Absorption (SF)
350,000
Average Asking NNN
VACANCY VS. RENTAL RATES
Occupancy Rate
NET ABSORPTION
Vacancy Rate
Available SF
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
27
FAR NORTHEAST TOTAL INDUSTRIAL PERFORMANCE Quarter
Net Rentable Area
Available SF
Vacancy Rate
Absorption
Average Asking NNN
2015 Q1
2,476,336
294,760
11.9%
(37,561)
$0.65
2015 Q2
2,476,336
218,715
8.8%
76,045
$0.58
2015 Q3
2,476,336
214,284
8.7%
4,431
$0.62
2015 Q4
2,476,336
209,534
8.5%
4,750
$0.62
2016 Q1
2,476,336
183,470
7.4%
26,064
$0.60
2016 Q2
2,476,336
153,034
6.2%
30,436
$0.71
2016 Q3
2,638,806
228,647
8.7%
67,413
$0.73
2016 Q4
2,638,806
276,837
10.5%
140,558
$0.54
Numbers based on CBRE statistics
2,500,000
15%
120,000
2,000,000
12%
1,500,000
9%
1,000,000
6%
500,000
3%
-
2015 Q1
2015 Q2
Occupied SF
2015 Q3
2015 Q4
2016 Q1
Available SF
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
0%
96% 92%
80,000 88% 40,000 84%
0 (40,000)
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Absorption
2016 Q1
2016 Q2
2016 Q3
Occupancy Rate
2016 Q4
80%
Average Asking NNN
160,000
Occupancy Rate
18%
Absorption (SF)
3,000,000
VACANCY VS. RENTAL RATES $1.00
20%
$0.80
16%
$0.60
12%
$0.40
8%
$0.20
4%
$0.00
2015 Q1
2015 Q2
2015 Q3
2015 Q4
Average Asking NNN
2016 Q1
2016 Q2
2016 Q3
2016 Q4
Vacancy Rate
NET ABSORPTION
Vacancy Rate
Available SF
AVAILABLE SF VS. VACANCY RATE
0%
Vacancy Rate
28