Second quarter leasing activity was over 585,000 sq. ft., a 32.7% decrease from the previous quarter.
The average asking rent for all asset classes was $22.56 per sq. ft., a 1.1% increase from Q1 2021 and 3.5% decrease from one year ago.
The availability rate for all asset classes decreased by 20 basis points (bps) to 8.2% from Q1 2021 and increased 20 bps from Q2 2020.
Net absorption was over 392,000 sq. ft. in Q2