• Metro Tucson ended Q4 2019 with 77,964 sq. ft. of negative net absorption, which is the first quarter of negative absorption since Q2 2017
  • Despite the slow fourth quarter, the market recorded 1,333,982 sq. ft. of positive net absorption for the 2019 year
  • Market-wide vacancy fell 95 bps year-over-year to 6.6%
  • Tucson’s average asking lease rate increased 3.8% over the last 12 months to $0.54 per sq. ft. NNN
  • Currently, 123,220 sq. ft. of industrial space is under construction in Metro Tucson. A 73,720 sq. ft. BTS in the Airport submarket for Raytheon, the second largest employer in Southern Arizona, and a 49,500 sq. ft. BTS project in the Southwest submarket for an e-commerce company