Research

"Availability fell 150 basis points (bps) year over year to 21.3% while sublease space continues to decline"

"Palm Beach is in the midst of an active office development cycle"

"Leasing activity of 1.9 million square feet (msf) in Q4 2025 brought total2025 leasing activity to 6.7 msf"

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

"Average rental rates saw modest downward pressure this quarter, declining 2.5% year over year as elevated vacancy persists amid ongoing absorption of recently delivered product."

"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."

"The East Bay/Oakland industrial market returned to negative absorption, totaling -67,292 square feet (sf) in Q4 2025. San Leandro led negative absorption, totaling -157,506 sf."