"Vacancy has climbed to 39.7%, a 560-basis-point (bp) increase from 34.1% in the same quarter last year, marking one of the highest vacancy rates in the nation."

"A year-over-year increase of 290 basis points pushed overall vacancy to a record high of 24.8%, up from 21.9% in Q2 2024."

"Vacancy has surged to 28.7%, nearly doubling over the past year from 15.3% in Q2 2024."

"Vacancy increased by 560 basis points (bps) year over year to reach 23.3%, primarily due to a continued wave of newly delivered inventory."