• Monthly leasing activity totaled 640,000 sq. ft., up 48% from its five-year monthly average of 432,000 sq. ft.
  • Year-to-date leasing activity was up 21% from the same period last year.
  • Renewals totaled 23,000 sq. ft. in February 2018, bringing the year-to-date total to 40,000 sq. ft.
  • The availability rate fell 40 bps from last month and 70 bps from one year ago.
  • Net absorption was 306,000 sq. ft. in February 2018, bringing the year-to-date total to negative 347,000 sq. ft.
  • The average asking rent was $74.43 per sq. ft., up 2% from last month and virtually unchanged from one year ago.
  • Sublease availability dropped 20 bps to 2.8% month-over-month, with an average asking rent of $62.00 per sq. ft., up 7% from a year ago.