Reis: Office Vacancy Rate unchanged in Q4 at 16.7%

Reis reported that the office vacancy rate was at 16.7% in Q4, unchanged from 16.7% in Q3 2018. This is up from 16.4% in Q4 2017, and down from the cycle peak of 17.6%. From Reis Economist Barbara Denham: The office vacancy rate was flat in the quarter at 16.7%. At year-end 2017 it was 16.4%, while at year-end 2016 it was 16.3%. Both the national average asking rent and effective rent, which nets out landlord concessions, increased 0.7% in the fourth quarter. At $33.43 per square foot (asking) and $27.13 per square foot (effective), the average rents have increased 2.6% and 2.7%,......(read more)

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