After a fairly rough end to 2023 Q1 continues to present problems for the general market recovery that was anticipated to begin in 2024. We have continued to see the contraction of companies that grew during Covid as well as deliveries of new construction. Combined, the overall vacancy rates climbed nearly 3% year over year. There is a silver lining in that we continue to see rents increase overall with some increased concessions, but general market growth remains intact. Leasing velocity has experienced little change from last year but should improve as interest rates begin to decline, allowing both owners and occupiers to access more capital.