• Q4 2018 net absorption increased by 190,000 sq. ft. since Q3 2018 and by 720,000 sq. ft. compared to Q4 2017, when absorption was negative.
  • Market-wide vacancy rates fell from 4.5% in Q3 2018 and 5.1% in Q4 2017, to 3.6%, marking a new record low.
  • Class A asking rents rose by $0.03 per sq. ft. quarter-over-quarter and by $0.10 per sq. ft. year-over-year, pushing above the pre-recession high of $5.10 per sq. ft.  
  • Q4 2018 closed with users seeking 2.6 million sq. ft. of space, 110,000 sq. ft. more than total vacant sq. ft. in the market and three times available Class A space.