Positive net absorption of 38,470 sq. ft. was recorded in Q2 2019, bringing year-to-date net absorption to negative 155,319 sq. ft.
The average direct asking lease rate reached $26.01 per sq. ft. FSG, an increase of 1.3% quarter-over-quarter.
Direct vacancy in the Southeast submarket decreased by 17 bps quarter-over-quarter to 12.4%.
The sale of the TriZetto HQ building for $61.3 million was the largest transaction of the quarter in the Southeast submarket.
The largest leases signed in the Southeast submarket in Q2 2019 were VF Corporation’s temporary space (150,000 sq. ft.) at Great West Life I and HealthONE’s renewal (81,508 sq. ft.) at Belleview Corporate Plaza II.