2018 marked a record-setting year for positive net absorption in the Downtown submarket. Positive net absorption of 466,910 sq. ft. was posted in Q4 2018, bringing annual 2018 net absorption to 834,327 sq. ft. for the submarket.
The Downtown average direct asking lease rate was $35.64 per sq. ft. FSG in Q4 2018— a 6.6% increase year-over-year.
The Downtown direct vacancy rate decreased 43 bps quarter-over-quarter to 14.8%.
The 295,743-sq.-ft. renewal of Anadarko Petroleum at Granite Tower in the Mid-CBD micromarket marked the largest lease executed in Q4 2018.
The largest transaction of the quarter was the $222.0 million sale of 1601 Wewatta to Morgan Stanley in the LoDo micromarket.