•The vacancy rate closed out the first quarter at 2.6%, a slight increased compared to Q1 2019. This marks the 9th consecutive quarter with vacancy below 3.0%.

•Prologis acquired Liberty Airport Center from Liberty Property Trust as part of the $12.6 billion all-stock deal.

•Asking rents remain elevated, hovering around record high levels. While growth has slowed in recent quarters, this was the 10th consecutive quarter with rates above the $10.00 per sq. ft. mark at $10.75 per sf. ft.