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Industrial real estate, driven by manufacturing and the basic needs of a growing US population, continues to outshine the office sector on the road to recovery. Companies soaked up distribution and manufacturing space at an accelerated pace in the second quarter despite slowing economic growth at home and a looming recession in Europe.

Net occupancy of industrial properties grew by 19.8 million square feet, according to Cassidy Turley Real Estate Services. While that activity was insufficient to budge the industrial vacancy rate, which remained flat at 9.1%, it did outstrip the 19.1 million square feet of net absorption logged in the first quarter, the St. Louis-based firm found.

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