Leasing volume declined 16.6% QoQ and 15.6% YoY, while under construction space fell 2.2% QoQ and 11.1% YoY, signaling a continued pullback across the market. Asking rent was nearly flat, up 1.2% QoQ but down 0.3% YoY, reflecting mild pricing pressure persisting into the current period.

SALES TRENDS

Sales volume fell sharply, down 67.1% QoQ and 31.2% YoY, while average sale price per square foot declined 8.5% QoQ and 14.8% YoY, reflecting broad-based weakness in both transaction volume and pricing.