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CBRE MARKETVIEW <br />I \II if if ',I', II I I III II 11 )II III I <br />I pill(' VI'I 11H111111(111 (10 IIPIIVI Ill \A Ih'(nlpy II(IIP <br />Absorption and Deliveries (MSIF) <br />6 <br />5 <br />4 <br />2 <br />0 <br />i <br />i <br />2003 2004 2005 2006 2007 <br />r• Net Albserpnon 11111111111111111111111111111111Debefes <br />Source: CBRE Research, Q4 2020. <br />New deliveries in Q4 2020 brought the annual total <br />to nearly 3.0 million sq. ft., slightly more than the <br />total absorption of nearly 2.9 million sq. ft. This <br />construction total outpaces 2019 by a large <br />margin, and more than 2 million square feet of <br />speculative development could break ground in <br />2021. With another strong quarter, the Midway <br />outperformed all submarkets in 2020 with nearly 1 <br />million sq. ft absorbed. <br />TRANSACTIONS <br />Transaction activity in Q4 2020 was 69% greater <br />than Q3. As well, 65%, of overall activity was new <br />leases or expansions, a sign of a strong industrial <br />economy. <br />IpIIIAI PI Iup 11cnr,r1c11u1r, <br />I (1IIIHI PIP(I ; LII IIIIII <br />in111n'I'f1 (i i'I',, 111 j <br />In11V11 ((n11 i I AI IIIIII <br />h`',IlllII I'UII, H1,l11(1111,11 ,IIII <br />I (i11111ii111IIHI I I I(H) <br />Source: CBRE Research, Q4 2020. <br />dlll <br />II II IIII I <br />1IuII('II IIni11' IIIu1 <br />2008 <br />Vcieci i y <br />2009 <br />2020 <br />1111I Hp PHILni l l Iypc ',ili`'II',illl I'I (111( ( II <br />000s Sq. Ft. <br />1,600 <br />1,400 <br />1,200 <br />1,000 <br />800 <br />600 <br />400 <br />200 <br />0 <br />/11 <br />�� of <br />• New Lease IIIIII Renewal IIIIIIIIIII User Sale <br />Source: CBRE Research, Q4 2020. <br />1111 I ('II11uI \IrNII('(( <br />�nI 11(111'(,, III'(IIHV(III <br />n1111uv�'1 <br />'IIII I') IHP1111)11(1 I (II i' PLI IVuI1 1V1(''•I <br />II <br />n11111 ('1111u1 <br />HPHII <br />I PHI a HI I% II' I'llill HI <br />6 <br />4 <br />2 <br />0 <br />.nx m :C�im �`W 9�im �`W W":" III'Ilk III'nw IIIIIII III w <br />