• The availability rate increased slightly from 10.9% to 11.2% this quarter but has remained unchanged from a year ago.
  • Leasing activity totaled 391,000 sq. ft. during Q3 2019, a 19% drop from the previous quarter and 19% below the five-year quarterly average for Long Island.
  • Although down quarter-over-quarter, overall leasing activity year-to-date totaled 1.48 million sq. ft., 13% above 3Q 2018’s year-to-date total.
  • Net absorption totaled negative 185,000 sq. ft. in Q3 2019, after two previous quarters of positive absorption.
  • The overall average asking rent increased slightly quarter-over-quarter to $27.69 per sq. ft. and is up 2% since Q3 2018.