Lease ExpirationNear-term office expirations remain elevated with 9.5% by ABR in 2024 and month-to-month, and 9.0% set to expire in 2025.
Office OccupancyOffice occupancy fell by 150bps to 79.1%, with expectations of further vacating in National Landing.
Operating OccupancyOperating occupancy declined 130bps q/q to 86.4%, driven by a 250bps drop to 80.6% in commercial, with multifamily flat at 94.3%.