• Year-over-year, the availability rate decreased 20 basis points (bps) to 11.8% but increased 60 bps from the previous quarter.
  • Leasing activity totaled 285,000 sq. ft. during Q4 2018, an 11% drop from the previous quarter, and 44% below the five-year quarterly average for Long Island.
  • Overall leasing activity for 2018 totaled 1.6 million sq. ft., down 10% from 2017.
  • Net absorption totaled positive 144,000 sq. ft. in 2018, however Q4 2018 registered negative 136,000 sq. ft.
  • The overall average asking rent rose quarter-over-quarter to $27.34 per sq. ft. and is also up 2% year-over-year.