MARKET TRENDS
- Leasing activity reached 0.7 million square feet (msf) in Q1, a 67.1% increase from Q1 2024, led by the Southeast’s best quarter in seven years, with continued momentum expected
- Availability rose to 21.2% from 19.6% last year, though high-demand areas like the Southeast and CBD saw lower rates, with well-located, high-quality space expected to remain in demand
- Asking rents dipped to $27.01 per square foot (psf) year over year, with Class A at $29.27 psf, as landlords adjust to demand and rents may stabilize as activity gains momentum