New high-standard warehouse supply in the 16 cities tracked by CBRE Research fell to a historical low in Q2 2018, with just 280,000 sq. m. of new space completed. New stock was confined to Nanjing, Chongqing and Ningbo. This ensured vacancy in tier I and II cities fell to 5.5% and 11.1%, respectively, despite total net absorption dipping to 720,000 sq. m.