Reis: Office Vacancy Rate unchanged in Q4 at 16.8%

Reis reported that the office vacancy rate was at 16.8% in Q4, unchanged from 16.8% in Q3 2019. This is up from 16.7% in Q4 2018, and down from the cycle peak of 17.6%. From Reis Senior Economist Barbara Byrne Denham: The office vacancy rate was unchanged at 16.8% in the fourth quarter. It was 16.7% in the fourth quarter of 2018 and 16.4% at year-end 2017. Both the national average asking rent and effective rent, which nets out landlord concessions, increased 0.5% in the fourth quarter. At $34.31 per square foot (asking) and $27.87 per square foot (effective), the average rents have......(read more)

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