Office Vacancy Rates in Major U.S. Cities – First Quarter 2007

Alex Carrick -- June 1, 2007

The U.S. national downtown (i.e., central business district) office vacancy rate in first-quarter 2007 improved slightly to 13.7% from 13.8% in fourth-quarter 2006. The year-ago level (first-quarter 2006) was 15.0%. The national suburban vacancy rate also fell marginally to 15.5% in first-quarter 2007 versus the previous quarter’s 15.7%. The year-ago (first-quarter 2006) suburban vacancy rate was 16.2%. Overall, the latest quarter metro-wide vacancy rate was 14.9%, down from 15.1% in the previous quarter and 15.8% a year ago. All figures have been compiled by real estate experts Property & Portfolio Research (PPR).