- Engineering, procurement, and construction merger activity has continued to cause further negative absorption in the suburban market.

- Three buildings were completed this quarter, leaving no significant new construction underway.

- Overall net rental rates decreased slightly quarter-over-quarter from $15.72 per sq. ft. to $15.62 per sq. ft.

- Due to the high vacancy in the market, building values have lowered and some tenants are evaluating the opportunity to become owner/users.