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Increase in availability in large blocks of space brings relief for office/lab tenants, not industrial

•Scarce existing industrial space available over 50,000 square feet keeps pressure on rents amid zero development projects for this type of product.

•Large blocks of space under construction are likely to target life science tenants given the extremely compressed vacancy rates for this type of product. Large blocks of office space currently available in the market amounts to more than 2 million square feet, making the office market more competitive than in the past 24 months.

•The 92 Highway Corridor shows the most competitive submarket with 13 available large block spaces clustered relatively close together.




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