Net absorption was positive 42,065 sq. ft. If not for the 520,000 sq. ft. lease for a new yet-to-be completed facility in Lakeland by DHL, total leasing activity would have decreased 62.6% year-over-year.
Users of all sizes have been touring the market in search of space, encouraging many landlords to bump up their asking rents in Q2 2018, pushing the market’s average rent to $5.14 per sq. ft.