Market Trends

• Vacancies are up by 30 basis points (bps) year over year, but declined in Q2 2026, with net absorption reaching its highest quarterly total in a year.
• Construction activity is declining, with just 0.7 million square feet (msf) under construction. This is down by more than 50.0% compared to Q2 2025.
• Transaction activity was driven by the professional & business services and construction materials & building fixtures industries, with several being new leases.

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