Monthly leasing activity totaled 23,000 sq. ft., down 94% from the five-year monthly average of 415,000 sq. ft.
Year-to-date leasing activity totaled 1.40 million sq.ft., down 79% from the same period last year.
Renewals totaled 21,000 sq. ft. in November, bringing the year-to-date total to 842,000 sq. ft.
At 15.0%, the availability rate rose 30 basis points (bps) from last month and was up 520 bps from one year ago.
Net absorption was negative 266,000 sq. ft. in November, bringing the year-to-date total to negative 4.26 million.
The average asking rent was $81.68 per sq. ft., virtually unchanged from last month but down 2% from one year ago.
Sublease availability increased 20 bps to 4.6% month-over-month, with an average asking rent of $65.77 per sq. ft. down 1% from a month ago.