• Midwest industrial vacancy increased just 0.2% over year-end 2020 to 4.0% in Q4 2020.

• Average asking rates rose 0.8% over year-end 2019, closing Q4 2020 at $4.93 per sq. ft. NNN.

• New construction activity is strong, with 15.7 million sq. ft. completed in Q4 2020. An additional 71.5 million sq. ft. is underway with 53.9% pre-leased.

• The Midwest markets posted 31.4 million sq. ft. of industrial leasing activity in Q4 2020, 77.7% of which was new leasing activity.