Supply has remained relatively stable at 3.3m sq ft over the past 12-18 months, although the strong levels of activity in new grade A Big Box space has seen the supply of Grade A space reduce to 1.2m sq ft.  This tightening in grade A supply has been countered by an increase in second hand stock on the market, which has risen to 2.1m sq ft, the highest level since 2015.  The availability rate in Essex stands at 4.53%, below the long run average for the region (4.75%).