A delivery is when a real estate development (or units within a development) gets leased to new tenants and / or sold to new owners, after effective completion is reached (if the project was under development).
A delivery signifies the point at which stock moves from being vacant into being let / occupied. This is different to a completion, which is the point that projects move from the pipeline into total stock.
There are other useful terms to consider when exploring the dynamics of a real estate market. Vacant space, nominal vacancy rate, structural vacancy rate, shadow space, expanded vacant space, delivery, on hold, stalled development, abandoned development and pipeline entries. These are all important concepts that form the makeup of real estate supply and demand.
