• Monthly leasing activity totaled 550,000 sq. ft., up 19% from the five-year monthly average of 463,000 sq. ft.
  • Year-to-date leasing activity was up 51% from the same period last year.
  • The availability rate rose 30 bps from last month, though was down 60 bps from one year ago.
  • Net absorption was negative 419,000 sq. ft. in January 2019.
  • The average asking rent was $82.27 per sq. ft., virtually unchanged from last month and up 12% from one year ago.
  • Sublease availability increased 10 bps to 2.9% month-over-month, with an average asking rent of $75.47 per sq. ft., up 24% from a year ago.