• Monthly leasing activity totaled 310,000 sq. ft., 29% below the five-year monthly average of 440,000 sq. ft.

• Year-to-date leasing activity was 1.49 million sq. ft., down 39% compared to the same period last year.

• Renewals totaled 66,000 sq. ft. in April, bringing the year-to-date total to 624,000 sq. ft.

• The availability rate increased 40 basis points (bps) from last month to 12.8% and was down 70 bps from a year ago.

• Net absorption was negative 295,000 sq. ft. in April, bringing the year-to-date total to negative 655,000 sq. ft.

• At $63.78 per sq. ft., the average asking rent remained unchanged from the prior month but was up 2% from a year ago.

• Sublease availability was 3.0%, with an average asking rent of $57.85 per sq. ft., an increase of 12% year-over-year.