Tenants feel the “squeeze” and market provides no relief
- Tenant demand in Q4 2019 remained solid as transaction volume totaled more than 1.1 million sq. ft. during the quarter, including three leases over 100,000 sq. ft. to bring the annual large transaction total to 16. Many of these transactions are commitments to new construction projects or renewals, which have intensified the supply shortage with little change to the overall vacancy rate.