NEW YORK CITY—Just at the midpoint of 2014, Manhattan office leasing velocity is on pace to exceed the total volume of leases completed in 2013, according to a new report by Avison Young, obtained EXCLUSIVELY by GlobeSt.com.

Average asking rents are stable quarter-over-quarter, the firm reports, although in some submarkets—such as Midtown South—rents are rising steadily, which may lead to an influx of early renewals among tenants looking to lock in today’s rents.

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