• Monthly leasing activity totaled 1.98 million sq. ft., 34% above the five-year monthly average of 1.48 million sq. ft.
  • Year-to-date leasing activity was up 24% compared to the same period last year.
  • Renewals totaled 421,000 sq. ft. in January.
  • The availability rate was up 20 bps month-over-month and up 40 bps year-over-year.
  • Net absorption was negative 1.14 million sq. ft. in January.  
  • The average asking rent was essentially flat month-over-month at $86.56 per sq. ft. but was up 5% from one year ago.
  • Sublease availability was 2.8%, with an average asking rent of $65.04 per sq. ft., up 16% year-over-year.