• There are currently 7.3 million sq. ft. of active industrial construction underway—a remarkable 5.3% of the entire market. Additionally, there are just under 5.5 million sq. ft. scheduled to deliver by the end of the year.
  • Over 564,000 sq. ft. of industrial space delivered in Q2—located in the California Avenue and Bluffdale submarkets.
  • Leasing activity was driven by larger users, including an 843,078-sq.-ft. lease in California Avenue.
  • Vacancy experienced a 70 basis point decrease from 3.7% to 3.0%.
  • The Salt Lake City industrial market absorbed 1.6 million sq. ft. on net in Q2 2020—a quarter-over-quarter increase of 179%. Just under 75% of this activity took place in the California Avenue submarket.