Reis: Office Vacancy Rate unchanged in Q3 to 16.6%

Reis reported that the office vacancy rate was unchanged at 16.6% in Q3, from 16.6% in Q2 2018. This is up from 16.4% in Q3 2017, and down from the cycle peak of 17.6%. From Reis Economist Barbara Denham: Defying employment trends, the U.S. office market was flat in the third quarter at 16.6% . Once again, leasing activity remains tepid compared to previous expansions. Net absorption, or occupancy growth, was 3.54 million square feet, up from 3.48 million square feet last quarter, but down from an average of 5.9 million square feet absorbed per quarter in 2017. New completions fell......(read more)

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