Asking and effective rents both grew by 0.4% during the second quarter. This is now the second quarter in a row that both asking and effective rent growth have slowed. 0.4% for both metrics is about on par with the quarterly average growth rate since rents began rising consistently in the fourth quarter of 2010. Asking and effective rents have now risen for eleven consecutive quarters. Yet, the cumulative growth in asking and effective rents during this 11-quarter recovery period is only 4.7% and 5.4%, respectively. For comparison’s sake, the office market is able to produce that kind of rent growth in typical calendar-year periods. Rents remain below peak levels set in 2008. Without stronger demand, it will take years to return to those levels.