During the tumultuous months of the second quarter of 2020, the Louisville industrial market held steady and recorded the twenty-first consecutive quarter of positive net absorption.
- The market recorded 238,483 sq. ft. of positive net absorption.
- Market vacancy rate increased 50 bps to 4.6%.
- Average asking lease rate decreased $0.08 per sq. ft. to $3.79 NNN per sq. ft.
- Market availability decreased by 20 bps to 6.7%.
- Two new speculative construction projects with over 300,000 sq. ft. each began this quarter, and three with over 1 million sq. ft. were completed.