Net absorption for all of 2000 was one million sf versus 2.19 million sf in 1999. The figures represent vacancies for all industrial buildings of more than 10,000 sf, including owner-occupied space. For multi-tenant warehouse space, a more specific industry indicator, vacancy declined to 8.31% for the third quarter versus 8.7% a year earlier.
Six large-scale industrial developments are under way, totaling more than 918,000 sf. That compares with 566,800 sf under construction at the end of the third quarter last year. The projects include a 123,000-sf building at Crescent Resources Inc.'s Lakemont Business Park; two buildings totaling 288,700 sf at Crescent's Lakewood West Business Park; a 257,000-sf industrial building being developed by Beacon Partners at West Pointe off Interstate 85; and two buildings totaling 249,000 sf that Childress Klein Properties is developing at Northpark Business Park.
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