📈 Absorption: Despite facing challenges with a negative absorption rate, the negative absorption is shrinking. Currently we are reporting a negative absorption of -9900 square feet, a dramatic improvement from negative 124,000 in August 2023.

What is absorption? The rate at which vacant space is rented out or utilized by tenants is referred to as absorption. A high absorption rate indicates a high demand for properties because it signifies that spaces are filling up quickly. If the rate is low, there may be less demand overall, but even so, more renters are growing or entering the market than are leaving or downsizing their needs. If the rate is negative, more tenants are vacating the space than are relocating there. #MarketResilience #OpportunityInsight”