• Monthly leasing activity totaled 130,000 sq. ft., down 72% from the five-year monthly average of 467,000 sq. ft.

• Year-to-date leasing activity was down 43% from the same period last year.

• No renewals occurred in April, leaving the year-to-date total at 239,000 sq. ft.

• The availability rate fell 20 basis points (bps) from last month and remained unchanged from one year ago.

• Net absorption was positive 143,000 sq. ft. in April, bringing the year-to-date total to negative 710,000 sq. ft.

• The average asking rent was $86.31 per sq. ft., virtually unchanged from last month and up 2% from one year ago.

• Sublease availability decreased 10 bps to 2.6% month-over-month, with an average asking rent of $67.72 per sq. ft., up 20% from a year ago.