After eight consecutive quarters of decreasing vacancy from Q3 of 2020 to Q3 of 2022, we have experienced the third consecutive quarter of stable vacancy rates. Q3 2022 hit a low vacancy rate of 3.5% which has held steady for the last three quarters with Q1 2023 being 3.48%. Will this be the trend going forward? In our previous report (Q3 2022) we shared intelligence on the spec buildings under construction, pre-leasing and build-to-suits. In this issue of “The Occupier” we are going to outline new industrial buildings that are going up on spec and under construction.