• Monthly leasing activity totaled 3.05 million sq. ft. in, 29% above its five-year quarterly average.
  • Year-end leasing activity was 37% higher compared to a year ago.
  • The availability rate was 11.2%, up 40 basis points (bps) from the prior month, but down 40 bps from a year ago.
  • Net absorption registered negative 2.36 million sq. ft. in January.
  • The average asking rent, at $76.09 per sq. ft., up 4% from the prior month and from a year ago.
  • Sublease availability currently stands at 2.5%, unchanged from the month prior, but up 20 bps year-over-year.