• Net absorption was negative for the third quarter in a row, bringing the year-to-date total to negative 211,163 sq. ft.
  • Total vacancy reached 15.6%—its highest level since 2012.
  • Sublease availability increased 67% since March 2020 to over 2.26 million sq. ft. at year-end.
  • Year-to-date, total completions reached over 2.5 million sq. ft., just below 2016's record of 2.6 million sq. ft.
  • With a pending COVID-19 vaccine, office users and landlords appear optimistic for a 2021 resumption of activity.