• The development pipeline is at its lowest level since Q4 2012 with just 294,000 sq. ft. underway.
  • Three prominent office projects delivered this quarter, bringing 885,000 sq. ft. of new space to downtown and pushing direct vacancy to 18.7%.
  • The downtown submarket recorded negative 158,000 sq. ft. of net absorption in Q2 2021, the third consecutive quarter of negative activity.
  • The average direct asking lease rate increased $3.77 quarter-over-quarter to  $39.23 per sq. ft. FSG.