MARKET TRENDS

• Availability remains elevated at 22.8%, an almost 90-basis-point jump from the same time last year as demand lessens and occupiers continue to downsize.
• Market conditions continue to be tenant-favorable and occupiers have ample direct and sublet options to choose from with high landlord concessions.
• Return to-office policies emphasizing space efficiency will continue to drive decision-making as more occupiers reevaluate their office footprints.

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