• While many businesses are back to 100% capacity in the office, many remain at limited capacity, and several have adapted to the hybrid model indefinitely – causing an uptick in sublease space nation wide.

  • Approximately 796,000 or 11.5% of available space market wide is for sublease, with the lion’s share of available sublease space in the Northwest submarket.

  • Market movement remained stable across the board with over 28,000 sq. ft. of positive net absorption market-wide.

  • Three speculative buildings delivered in Q3 2021, totaling over 240,000 sq. ft. market wide. 31.7% of the delivered product was pre-leased upon completion.