• Monthly leasing activity totaled 377,000 sq. ft., down 21% from the five-year monthly average of 478,000 sq. ft.
  • Year-to-date leasing activity was down 32% from the same period last year.
  • The availability rate rose 60 bps from last month and was up 40 bps from one year ago.
  • Net absorption was negative 615,000 sq. ft. in January.
  • The average asking rent was $85.72 per sq. ft., a 1% increase from last month and up 4% from one year ago.