Office Vacancy Declines In Major Markets In Q1 2013

Office Vacancy Declines In Major Markets In Q1 2013

Biggest Drops in Denver and San Francisco Office Markets. Moderate Decline in Industrial Availability.

Los Angeles, March 21, 2013 – Office vacancy rates declined or held steady in most major U.S. markets during Q1 2013, according to preliminary data from CBRE Group, Inc. Six of the 12 largest markets showed declines in office vacancy, led by Denver and San Francisco, while two markets remained stable. Industrial availability* continued to decrease moderately in major U.S. markets, according to CBRE.

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Market Trend: New York City's Office Vacancy Decreases to 7.4%

Market Trend: New York City's Office Vacancy Decreases to 7.4%
Net Absorption Positive 990,481 SF in the Quarter
By Justin Sumner
January 31, 2013

The New York City Office market ended the fourth quarter 2012 with a vacancy rate of 7.4%.

The vacancy rate was down over the previous quarter, with net absorption totaling positive 990,481 square feet in the fourth quarter. That compares to negative 575,819 square feet in the third quarter. Vacant sublease space increased in the quarter, ending the quarter at 4,944,077 square feet.

http://www.costar.com/News/Article/Market-Trend-New-York-Citys-Office-Vacancy-Decreases-to-74/145256