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Amazon alone helped to push down the industrial vacancy rate in Orange County even further. According to a recent market report from Newmark Knight Frank, Amazon signed nearly 1 million square feet of industrial leases in 2019, helping to keep the industrial vacancy rate below 4% for the 25th consecutive quarter.

“Amazon had a tremendous impact on the overall industrial market in 2019, having finalized nearly 1 million square feet of leases in three transactions alone during the calendar year,” Jeff Read, executive managing director at NKF, tells GlobeSt.com. “Not surprisingly, Amazon was responsible for a majority of the overall absorption for the year as they execute on their push to satisfy “last-mile” distribution to consumers in mature infill markets like Orange County. Based upon multiple pending transactions, we anticipate that Amazon will have a similar impact on industrial absorption in 2020 as well.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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