• Monthly leasing activity totaled 192,000 sq. ft., 55% below its five-year monthly average of 426,000 sq. ft.
  • Year-to-date leasing activity was down 68% compared to the same period last year.
  • Renewal activity totaled 289,000 sq. ft. in the month of February.
  • The availability rate was virtually unchanged from last month but is up 290 bps from one year ago.
  • Net absorption was negative 32,000 sq. ft. in February 2018.
  • The average asking rent was $62.51 per sq. ft., virtually unchanged from last month but up 8% from one year ago.
  • Sublease availability was 1.9%, with an average asking rent of $51.04 per sq. ft., up 5% year-over-year.