• Leasing activity totaled 1.37 million sq. ft. in Q4 2019, a 47% decrease from Q3 2019 and 5% behind the five-year quarterly average.
  • Total leasing activity for 2019 rose to a record high of 7.01 million sq. ft., up 4% from 2018.
  • The availability rate increased 80 bps to 9.8% in Q4 2019 from the previous quarter and was up 10 bps from one year ago.
  • Q4 2019 registered negative net absorption of 601,000 sq. ft., pulling 2019’s annual total down to negative 249,000 sq. ft.
  • The average asking rent remained near all-time highs finishing 2019 at $84.67 per sq. ft., up 1% from the prior quarter and 4% year-over-year.