• Monthly leasing activity totaled 748,000 sq. ft., up 63% from the five-year monthly average of 458,000 sq. ft.
  • Year-to-date leasing activity was up 5% from the same period last year.
  • Renewals totaled 17,000 sq. ft. in May, bringing the year-to-date total to 198,000 sq. ft.
  • The availability rate fell 40 bps from last month to 10.1% and is down 100 bps year over year.
  • Net absorption was positive 298,000 sq. ft. in May, bringing the year-to-date total to negative 538,000 sq. ft.