"Despite a record amount of new construction deliveries, vacancy remains at a historic low and well below the national average of 4.2%."
"The overall asking rental rate rose moderately in the first quarter of 2022 to $45.55 per square foot, an increase of 1.6% from the previous year, as rents are expected to increase in 2022"
"The overall full service asking rent increased to $26.44 per square foot, up by 4.3% compared to last year"
"Under construction and build-to-suit projects for life science tenants have surged resulting in a sharp increase in leasing activity with most space being pre-leased"
"South Florida’s Class A asking rents reached a record high of $45.41 per square foot due to an increase in demand for higher quality amenity-rich office buildings as companies hope to get remote workers to spend more time in the office"
"Salt Lake City’s overall asking rent reached a five-year high of $24.06 per square foot full-service gross."
"Baltimore’s availability rate reached a peak in the first quarter of 2022 at 17.7%, the highest the market has seen in over 5 years"
"Overall availability rate decreased for a fourth straight quarter, dropping 70 basis point to 15.3% in Q1 2022"
"Nashville office leasing trends remain strong as organizations continue to regain pre-pandemic strategic clarity"
"The availability rate for Q1, only 40 basis points (bps) below the highest level the market has ever seen remained elevated"