This quarter, in the downtown office market:
- Direct absorption was positive 371,026 SF, with total absorption up 477,105 for the quarter.
- Direct availability dropped from 13.97% to 13.90%, and direct vacancy dropped from 11.89% to 11.63% from last quarter.
- From Q4/18 to Q1/19, direct asking rents increased across all building classes, most notably in Class A, where they increased from $43.67 to $44.62. Direct asking rents in Class B increased from $35.88 to $36.07, and Class C rents increased from $29.27 to $29.59.
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