• Midtown finished Q3 2018 with 4.38 million sq. ft. of leasing activity, exceeding 4.0 million sq. ft. for the sixth consecutive quarter.
  • With 13.88 million sq. ft. of year-to-date leasing activity, Midtown is 6% ahead of this time last year and is on pace to have its highest year-end total in 12 years.
  • Despite the addition of several large blocks, strong leasing activity drove quarterly net absorption into a positive figure for the first time since Q4 2017.
  • The availability rate decreased 20 bps quarter-over-quarter to 11.1% and dropped 50 bps from this time last year.
  • At $78.41 per sq. ft., Midtown asking rents increased nominally for the fourth consecutive month, resulting in a 2% jump quarter-over-quarter.