Largest Percentage Point Changes in Office Vacancy Rates – Major U.S. Cities – First Quarter 2007

Alex Carrick -- June 1, 2007

Two cities in Texas — Houston and Austin — along with San Francisco and Phoenix, had the greatest improvements in their downtown office vacancy rates in first-quarter 2007, both year over year and quarter versus previous quarter, according to Property & Portfolio Research’s (PPR) latest calculations. San Diego, along with Detroit and the major centers in Pennsylvania and Ohio, had the largest increases in office vacancy rates in the latest period, as traditional industry (e.g., the auto sector) struggles with the need for structural change. In the suburbs, San Antonio is another Texas city showing an improvement in its office vacancy rate, while three centers in California have experienced a deterioration in their space requirements in the latest period — San Diego, the Inland Empire east of Los Angeles (beginning with Riverside) and Sacramento.