Average Asking Lease Rate
The overall market average asking lease rate increased to $3.91 from mid-year 2021 and $3.49 at year-end 2020. In the second half of 2021, all submarkets recorded increases or were flat, except the South/Southwest submarket which declined. The average asking rate for Class A space jumped to $6.80 per square foot from $5.28 at mid-year 2021.