Leasing volume declined 13.6% QoQ and 31.8% YoY, while under construction space fell 3.4% QoQ and 21.6% YoY, pointing to a broad pullback in activity. Asking rent slipped 3.7% YoY despite a modest 0.7% QoQ uptick, reflecting persistent demand softness weighing on pricing.

SALES TRENDS

Sales volume fell 49.0% QoQ and 48.5% YoY, while average sale price per square foot surged 47.7% QoQ and 103.7% YoY, indicating a significantly thinner but notably higher-priced transaction market.