• Monthly leasing activity totaled 911,000 sq. ft., 108% above the five-year monthly average of 439,000 sq. ft.
  • Year-to-date leasing activity is up 165% compared to the same period last year.
  • The availability rate increased 10 bps from last month, but declined 70 bps from a year ago.
  • Net absorption was negative 268,000 sq. ft. in January.
  • The average asking rent was $61.79 per sq. ft., 3% ahead of month and down 1% from one year ago.
  • Sublease availability was 2.8%, with an average asking rent of $51.41 per sq. ft., flat year-over-year.