• Monthly leasing activity totaled 329,000 sq. ft., down 31% from the five-year monthly average of 474,000 sq. ft.
  • Year-to-date leasing activity was up 21% from the same period last year.
  • No renewals occurred in August, leaving the year-to-date total at 1.13 million sq. ft.
  • The availability rate decreased 20 bps from last month to 9.3% and was down 130 bps year-over-year.
  • Net absorption was positive 145,000 sq. ft. in August, bringing the year-to-date total to positive 131,000 sq. ft.
  • The average asking rent was $85.70 per sq. ft., virtually unchanged from last month and up 11% from one year ago.
  • Sublease availability was flat from last month, at 2.2%, with an average asking rent of $62.67 per sq. ft., down 15% from a year ago.