Heights Union wrapped up construction of it’s second building (150,000 sq. ft.) which will be followed by an additional 880,000 sq. ft. between 1001 Water St, Midtown, and SkyCenter One – all aiming to deliver in the first half of 2021.
A handful of significant move-outs over the fourth quarter brought annual absorption to -377,643 sq. ft., which was largely driven by the sublease market.
Average asking rates increased 2.6% quarter over quarter, but reflects pricier, class A space coming back to market more than actual posted rate increases.