MARKET TRENDS
- The overall availability rate increased 100 basis points (bps) year over year but recorded its first quarterly decline in nine quarters, decreasing by a modest 40 bps
- Suburban leasing activity exceeded the 5-year quarterly average for the second consecutive quarter, led by Arbella’s 178,000-square-foot new lease at 1200 Crown Colony Drive
- Average asking rents remain stable year over year, but as leasing activity concentrated along the Route 128 belt, rates edged lower with the removal of listings in proximity to the CBD (Central Business District)