Apr
12
Office Vacancy Down in Most Markets But Up Overall
ByCBRE Group’s latest quarterly office market report shows that while the national vacancy rate edged up in 2016, it still remains at its lowest level since 2008.
Vacancy in the U.S. office market edged up by 10 basis points during the first quarter of 2016, rising to 13.2 percent, according to the latest quarterly report (released Monday) on the market by CBRE Group Inc. Even with the increase, the national office vacancy rate remains at its lowest level since 2008.
The overall national office vacancy rate has fallen 70 basis points over the past four quarters. Also, despite the slight Q1 increase, vacancy continued to improve in most places, with rates falling in 33 U.S. markets, rising in 25, and remaining unchanged in five. Suburban vacancy remained at 14.7 percent, while downtown vacancy increased by 10 bps, to 10.4 percent…
