Market Trends
- Availability continues to grow in the central business district (CBD) ending the quarter at 14.6%, up 270 basis points from 11.9% reported a year ago
- Leasing activity is steady but below the 5-year quarterly average as the market continues to face economic uncertainty and slow return to office
- The suburban office market has seen an $0.89 per square foot increase in rents year-on-year as flight to guality trends are occurring outside the CBD