NEW YORK, NY—Returning space continued to flood the Manhattan office market in February as another 10 office buildings each added 45,000 square feet or more to the available supply, according to a monthly report from DTZ.

Despite 21 buildings coming to market with significant availabilities this year, the overall availability rate dipped 10 basis points to 9.8%. The bulk of the space returns occurred in class B buildings, which accounted for eight of the aforementioned 10 buildings and posted the second consecutive month of negative absorption for Manhattan class B.

With many tenants driven towards value over the last four years, the 937,617 square feet of negative absorption posted this year will create more affordable opportunities in the market. After posting over 2 million square feet of negative absorption in January, class A space bounced back by recording over 889,000 square feet of positive absorption.