"Availability rose year over year to 20.5%, however this was the lowest level recorded in 2025"

"Austin leasing activity was primarily led by Compal USA Technology’s two new leases in the Georgetown/Round Rock submarket, which account for nearly 0.6 million square feet (msf) in the manufacturing industry. "

"Net absorption was negative by 1.7 million square feet (msf) in 2025, but reached positive 0.2 msf in the fourth quarter. With 1.7 msf of deliveries, vacancy increased by 150 basis points throughout the year."

"Vacancy continued to tick down as 2025 ended, declining 170 basis points year over year. Annual net absorption totaling 8.3 million square feet (msf) fueled the decline as new leases from prior quarters, such as Bleckmann Group, commenced."

"Vacancy ticked up to 9.3% in 2025, but deliveries slowed to 3.8 million square feet (msf). While 4.5 msf remains under construction, starts have moderated. Market conditions are expected to stabilize in 2026."

"Edmonton continues to post positive absorption, with Q4 seeing a mix driven from leases and buildto-suit deliveries. "

"Vacancy increased by 10 basis points (bps) in the fourth quarter to 9.1%. The Orange County industrial market recorded positive absorption, totaling 405,644 square feet (sf). "

"Nashville’s vacancy rate held steady throughout 2025, rising just 20 basis points quarter over quarter to 6.4% in Q4, as supply and demand remained closely aligned throughout the year. "

"Average asking rents reached $10.17 per square foot in Q4 2025, up 0.9% year over year. Rent growth persisted despite rising vacancy, supported by newer inventory and higher replacement costs."

"The market’s vacancy rate increased 90 basis points year over year from 7.7% in Q4 2024 to 8.6% in Q4 2025. Deliveries outpaced net absorption year to date, keeping vacancy rates elevated."