The report, published by Lee & Associates – Irvine Inc., records a net absorption of negative 110,815 sf for the month of February, as compared with a net absorption of negative 31,531 sf for January and negative 676,290 sf for December. As the statistics illustrate, the level of negative net absorption has begun to rise again, after improving significantly at the start of the year.
"A slight increase in the availability rate and the addition of a 40,100-sf building to the base inventory contributed to the negative net absorption number seen this month," according to the Lee & Associates report. The availability rate for all industrial building types did increase slightly, from 10.95% to 11.1%. Manufacturing buildings experienced the biggest shift in availability, as the rate increased from 7.95% to 8.7%.
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