Key activity drivers were consumer goods distributors, food and beverage, e-commerce and third-party (3PL) logistics. Strong demand from these users resulted in 9.9 million sq. ft. of gross activity and the IEE accounted for over 60% of Q1 2020 gross activity.
The vacancy rate was 3.8%, down 10 bps compared with Q4 2019 and down 20 bps year over year. Similarly, the availability rate was 6.3% down 10 bps quarter over quarter, and down 30 bps year over year.