Despite lockdown measures affecting the overall economy, the GMA industrial market was quite resilient in Q2 2020 and posted positive absorption during the quarter of 111,091 sq. ft.
After breaking the $7.00 per sq. ft. mark in Q1, growth of average net asking rents slowed down in Q2 2020 registering a 1.5% increase quarter-over-quarter.
Wholesale, e-commerce, food and beverage, manufacturing, as well as distribution & logistics were amongst the key industries driving demand for industrial space in Q2 2020.