- Rents increased during Q3 2022, ending the quarter at $21.15. This is an increase of $0.09 quarter-over-quarter and $0.28 year-over-year.
- Available sublease space remains prevalent, with 357,000 square feet of sublease space available in the market to end Q3 2022. This is almost three times the amount of available sublease space that the market saw in Q2 2020, before the initial negative effects of the pandemic were felt.
- Tech Center Building II broke ground this quarter, signaling the first office development in the market since 200 Corporate Boulevard delivered to the Central Norfolk submarket in Q3 2021.