• Although negative 27,000 sq. ft. of net absorption was recorded in Q2 2020, year-to-date net absorption was still positive at 113,000 sq. ft.—ahead of last year’s activity. 
  • The average direct asking lease rate rose to $26.87 per sq. ft. FSG in Q2 2020, up 3.3% year-over-year. 
  • Direct vacancy increased by 100 bps from Q1 2020 to 12.3%.
  • Sublease availability increased 30% quarter-over-quarter to 973,000 sq. ft.
  • Development activity remained active in the Southeast submarket with over 1.1 million sq. ft. of office space under construction.