The CBD and Class B properties performed well in the first quarter.
- Net absorption marketwide was positive 102,641 sq. ft. with Class B properties offsetting negative net absorption in Class A properties this quarter.
- CBD posted positive net absorption of 64,898 sq. ft. and Suburban submarkets recorded 37,716 sq. ft. of positive net absorption.
- The marketwide leasing activity was 259,973 sq. ft.
- Class A CBD average asking lease rate decreased $0.03 to $19.38 per sq. ft.
- Class A Suburban average asking lease rate increased $0.20 per sq. ft. to $22.12 per sq. ft.
- Two Olympia Park Plaza with 136,000 sq. ft. was completed in the I-71/Brownsboro Rd submarket and a 45,000 sq. ft. office building for Tri-Arrows Aluminum was completed in the East County submarket.