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Market Analysis <br /> <br />CBRE VALUATION & ADVISORY SERVICES 16 © 2025 CBRE, INC <br />• The submarket achieved average asking rent of $33.69 per square foot, which indicates a small <br />decrease from the previous quarter’s asking rent of $33.71 per square foot, and an increase from <br />the asking rent of $33.36 per square foot from last year. The submarket’s current asking rent of <br />$33.69 per square foot is below the overall market asking rent of $39.17 per square foot. <br /> <br /> <br />Submarket Inventory is projected to be 7,057,073 square feet at the end of the current year, which <br />represents a small decrease from the previous year’s submarket inventory of 7,057,921 square feet. <br />Inventory for next year is projected to be 7,047,728 square feet, reflecting a small decrease from the current <br />year. <br />  <br />  <br />City Council 17 – 32 2/17/2026