Positive net absorption of 106,226 sq. ft. was recorded in Q4 2018, bringing annual 2018 net absorption to 845,786 sq. ft.
The average direct asking lease rate increased to $25.61 per sq. ft. FSG in Q4 2018, an increase of 1.7% quarter-over-quarter.
Direct vacancy in the Southeast submarket decreased 63 bps year-over-year to 11.6%.
The sale of 6200 S Quebec Street for $85.2 million in the Greenwood Plaza micromarket marked the largest transaction of the quarter in the Southeast submarket.
The largest leases signed in the Southeast submarket in Q4 2018 were CACI (45,047 sq. ft.) at 7800 E Union Avenue and Newmont Mining (32,975 sq. ft.) at 6900 Layton Avenue, both in the DTC micromarket.