E-commerce Growth Continues to Transform the Industry
The overall industrial vacancy rate in the Oakland I-80 / I-880 Corridor remained near a historical low of 3.8 percent in the second quarter. Leasing activity in 2021 is already on pace to match 2020’s record levels of leasing activity and may even exceed it. The unprecedented e-commerce growth continues to transform the industry and drive demand for warehouse/distribution product. Gross absorption was 1,950,375 square feet in the second quarter, the largest quarterly total in the past five quarters.
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