•Monthly leasing activity totaled 201,000 sq. ft., down 57% from the five-year monthly average of 471,000 sq. ft.

•Year-to-date leasing activity was down 28% from the same period last year.

•No renewals occurred in February, leaving the year-to-date total at 73,000 sq. ft.

•The availability rate rose 20 basis points (bps) from last month and was up 60 bps from one year ago.

•Net absorption was negative 137,000 sq. ft. in February, bringing the year-to-date total to negative 752,000 sq. ft.

•The average asking rent was $86.33 per sq. ft., virtually unchanged from last month and up 4% from one year ago.

•Sublease availability increased 10 bps to 2.5% month-over-month, with an average asking rent of $67.72 per sq. ft., down 9% from a year ago.