• Lack of demand has put downward pressure on rents and resulted in 3.1 million sq. ft. of negative net absorption year-to-date, pushing overall vacancy up to 8.3%
  • Companies vacated more than 1.4 million sq. ft. in Q3 2020, 72% of which were vacant sublease additions.
  • Asking rates vary asset by asset but Class A buildings held more of their value when compared with Class B buildings – rents dropped 4.6% and 5.7%, respectively.