The average asking lease price was US$4.66 per sq. ft. per year, which has remained stable and unchanged from the previous year.
New supply for Q2 2020 recorded 1.4 million sq. ft., and the stock reached 113.8 million sq. ft.
Construction recorded 4.3 million sq. ft., a 14% decline compared to the previous quarter due to new supply and the current contingency. Two speculative warehouses began construction during this quarter.