The availability rate rose by 50 basis points (bps) to 25.7%, the third consecutive quarterly increase.
The average asking lease rate was stable at $34.35.
Leasing activity totaled 374,000 sq. ft. during Q3 2020, 174% greater than Q2 2020, but 32%
below the five-year quarterly average.
Net absorption was negative for the third consecutive quarter at 167,838 SF, largely due to
sublease space flowing back to the market.