- Vacancy continued to tighten:
Overall vacancy edged down to 5.7%, improving from 5.77% in Q1 2026 and down from 6.15% a year ago, as supply and demand rebalance across the market. -
Leasing activity accelerated:
Tenants signed 152 deals totaling 16.2 million square feet, up from Q1’s pace, with new leases making up 66% of activity — led by the I-80 Joliet Corridor’s 3.2 million square feet. -
Net absorption surged on big-box demand:
The market posted 3.9 million square feet of positive net absorption, more than four times Q1’s total, driven by big-box move-ins and owner-user acquisitions, even as 14.8 million square feet remained under construction.
