Slow and Steady
As we turn the page on the first quarter of 2021, not much has changed. The overall vacancy rate decreased to 5.5 percent from 5.6 percent the previous quarter. Rental rates decreased to $0.88 from $0.90 across the same period, the first decrease in a year. Despite this, the region began the year with 24,919 square feet of positive net absorption. Four sales occurred during the quarter, which is on par for typical quarters.
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