→ Sublease availability declined for a second consecutive month, easing to 14.2 million SF in October after peaking at 14.7 million SF in August.

→ Overall availability fell to 101.9 million SF, down 3.1 million SF from September, the first meaningful decline this year. More than 10 leases over 100K SF were signed in October, highlighting strong tenant demand and improving market balance.

→ Under construction availability ticked up slightly to 5.4 million SF with continued groundbreakings. Although total availability remains 13.3% higher year over, the slower pace of new construction is allowing demand to keep up with supply. This will ensure a more balanced market.