Key Market Trends
- The regional vacancy rate decreased to 15.9% from the record high level of 16.3 in the 1st quarter.
- Absorption was positive for the quarter and year-to-date with all markets registering gains in occupancy.
- Asking rents increased minimally by 0.7% for Class A and 0.2% for Class B.
- Investment volume for the first two quarters was 20% higher than during the last half of 2021.