"Market stagnation continues, with overall vacancy rising 770 basis points (bps) year-over-year to a high of 19.8%."

"Overall vacancy rates have risen 440 basis points to 17.9%."

"Vacancy increased 50 basis points (bps) over the past year to 28.7%, driven by 3.2 million square feet (msf) of new inventory outpacing sluggish demand."