Asking lease rates continued the trend of steady growth, increasing $0.36 per sq. ft. quarter-over-quarter, and $1.34 per sq. ft. year-over-year.
The overall market posted 154,023 sq. ft. of positive net absorption in Q4 2017, and 404,658 sq. ft. for 2017.
A new $1 billion single terminal international airport was approved in a landslide vote in the November 2017 elections. The new airport is expected to begin operations in 2021 and result in expanded flight options for the market making it more convenient for business travelers.