Michelle Matteson

National Vacancies

Vacancy rates year-over-year decreased in all regions, with the largest change coming from the Northeast, which tightened to 4.9 percent from 5.8 percent in the first quarter of 2017.

Industrial Demand

Compared to April 2016, new orders increased for all industries except for Furniture and Related Products, which went down by 2.1 percent.

Development

Compared to May 2017, the percentage of industrial properties under construction decreased by 11.9 percent, followed by a decrease of 7 percent for office construction.

CRE Transaction Volume and Percent Change

The volume has ranged over the past 10 years from $13.2 billion in the first quarter of 2009 to $160.2 billion in the fourth quarter of 2015.

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