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Pre-COVID average quarterly leasing volume totaled around 59 million square feet since 2016, while last quarter's figures clocked in just shy of 40 million square feet.
The firm's full year investment volume was 70% comprised of warehouse and industrial assets, and included $530 million in investments completed during Q4.
What is considered normal or stabilized vacancy in one geographic market is not the same in another, as vacancy and credit loss deductions are market-specific–making it even more challenging to make sweeping claims about the state of a given sector on a national level.