Ready for 306M more square feet to hit the market?
What you might find interesting are the following bullets from the article:
• 125M square feet has already delivered in the first half of this year (29% of that was Build To Suit)
• Only 35.9% of that total new construction is vacant
• 71% of the total 125M SF was Spec and almost half of that is already leased
• Total US vacancy rate is 4.9% - most major markets like DFW use 6% as the benchmark for justifying new development
• Over and above the 125M SF that has already delivered in the first half, there is another 306M square feet under construction!!!