MARKET TRENDS

• The overall availability rate has now increased for 15 consecutive quarters, rising 100 basis points (bps) in Q3 2025 and 360 bps year over year
• Class A average asking rents continued to face downward pressure amid limited net new leasing, declining 6.6% over the past 12 months
• A renewal by Alnylam Pharmaceuticals at 101 Main Street led this quarter’s modest leasing activity

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