It seems that overall activity, although still slow comparative to normal, started to significantly pick up towards the end of the 2nd quarter across the board from tenants to investors. We believe this trend will continue as companies realize that waiting on the sideline for an immediate resolution to this will not happen in the near-term. Companies seem less paralyzed to make a decision as they did two months ago.

There is a massive amount of equity liquidity in the market right now, specifically looking to acquire BOTH value-add and stabilized industrial properties to add to their respective portfolios. The major REITS hit the pause button for the time being with only a handful continuing active acquisitions through the COVID pandemic. However, within the last 15 days or so, we are starting to see them slowly move back into the marketplace as their respective investment committees are releasing the acquisition professionals to look at new deals. The most active investors over the last 90 days have been smaller private equity funds and family offices.