As we turn the page on 2018, the North I-680 Corridor’s industrial market continues to perform well. The overall vacancy rate decreased to 4.0 percent, a drop from 8.1 percent last year. Rental rates increased to $0.86, an increase of $0.24 over the same period. During the quarter there was negative 44,437 square feet of absorption, bringing net absorption for the year to 178,871 square feet. 30,000 square feet of warehouse space is under construction at Kendall Plaza in Brentwood, which is scheduled for completion by October 2019. Two sales occurred during the quarter, which is lower than the past few cycles.
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