Second quarter leasing activity was 5.2 million sq.
ft., a 36% increase from Q1 2020, but 23% less
than Q2 2019.
Average asking rent for all property classes was
stable quarter-over-quarter and increased 1.4%
year-over-year to $7.49 per sq. ft.
The availability rate for all classes fell by 10 basis
points (bps) to 6.0% from Q1 2020 and dropped 27
bps from Q2 2019.
Net absorption was 3.7 million sq. ft. in Q2 2020,
up from 782,131 sq. ft. in Q1 2020.