MARKET TRENDS

• Leasing activity of 1.4 million square feet (msf) was down from 1.5 msf last quarter, as well as 1.8 msf reported last year, but is expected to increase as the overall economy grows
• The overall availability rate of 27.2% was flat from a year ago and is projected to flatten as new speculative office construction has decreased over the past year
• Expect the occupier trend of flight to quality to continue as occupiers who can, remain focused on upgrading their real estate to better properties in highly desired locations

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