MARKET TRENDS
- Availability declined 330 basis points (bps) year over year to 20.5% as tightening sublease space and limited new supply drove more balanced market conditions entering 2026.
- Leasing activity reached 1.0 million square feet (msf), up 0.6 msf year over year, reflecting strong momentum driven by new deals and steady renewal and expansion activity.
- Asking rates increased to $37.54 per square foot (psf), up 3.1% year over year, as demand for top-tier space kept Class A pricing firm, with rates expected to hold firm into 2026.