Tuesday, April 02, 2013
Office Vacancy Update
Here is the latest Reis data on office rents and vacancy, via Calculated Risk. In the first quarter, vacancy improved by a small amount, dropping to 17.0% from 17.1%. Rents increased .7% in the first quarter, the tenth consecutive quarterly increase. Rents are still nearly 8% below their early second quarter 2008 peak. New construction is at record lows, and is expected to stay low until vacancy rates fall further.