OFFICE MARKET

2025 Q4

indicator CLASS A CLASS B CLASS C TOTAL
Total Inventory (SF) 9M 11M 5M 25M
Availability Rate (%) 10.3% 8.9% 3.4% 8.4%
Vacancy Rate (%) 6.2% 6.9% 2.8% 5.9%
Average Asking Rate ($/SF) $2.44 $2.03 $1.52 $2.19
Net Absorption (SF) -7K -2K 8K -979
Under Construction (SF) 0 0 0 0

INDUSTRIAL MARKET

2025 Q4

INDICATOR WEST EAST NORTH TOTAL
Total Inventory (SF) 361M 314M 25M 700M
Available Inventory (SF) 39M 37M 4M 80M
Vacancy Rate (%) 6.0% 8.5% 12.8% 7.3%
Average Asking Rate ($/SF) $1.12 $0.93 $0.00 $1.03
Net Absorption (SF) -2M 1M 1M 8M
Under Construction (SF) 2M 730K 4M 7M

RETAIL MARKET

2025 Q4

INDICATOR LIFESTYLE
& MALL
NEIGHBORHOOD,
COMMUNITY
& STRIP
STREET,
FREESTANDING,
OTHER
POWER TOTAL
Total Inventory (SF) 12M 88M 62M 19M 181M
Availability Rate (%) 9.3% 8.8% 4.2% 6.3% 7.0%
Average Asking Rate ($/SF) $1.73 $1.66 N/A $2.51 $1.73
Net Absorption (SF) -124K 53K 112K -52K -11K