Vacancy Rates
6/7/2007 5:37:00 AM - According to commercial real estate specialist Cushman & Wakefield LePage, office vacancy rates tightened a little in city centres across Canada, but eased slightly in the suburbs in first-quarter 2007. The Canada-wide downtown vacancy rate was 5.3% at the end of March 2007 versus 5.6% a quarter ago and 6.8% the year before. However, the suburban rate rose to 8.2% versus 7.8% in December 2006 and 8.4% in March 2006.
6/1/2007 9:09:00 AM - Dallas, Atlanta and Detroit are major markets with office vacancy rates of 19%-plus, both downtown and in the suburbs, according to the latest figures (first-quarter 2007) compiled by Property & Portfolio Research (PPR). San José’s central business district also has a high office vacancy rate, but the high-tech sector is making a comeback as shown by year-over-year employment figures and NASDAQ’s improvement versus its trough level.
6/1/2007 8:40:00 AM - 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%.
6/1/2007 8:34:00 AM - 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.
2/26/2007 4:55:00 AM - Among 54 major U.S. urban centres, Charlotte has the lowest office vacancy rate downtown and Honolulu, the lowest in the suburbs, in the latest figures (fourth-quarter 2006) compiled by PPR. Oklahoma City (has the highest vacancy rate downtown, while Boston has the highest vacancy rate in the suburbs. However, Boston (along with another high-tech ringleader, San José), is among the cities with the sharpest drops in suburban vacancy rates in the latest period.
2/26/2007 4:48:00 AM - New Orleans (a year-and-a-half after Hurricane Katrina) and Austin had the most dramatic improvements in their office vacancy rates downtown in fourth-quarter 2006, both year over year and quarter to quarter. The level of vacancies remain high in both cities, however (31.9% in New Orleans and 20.5% in Austin). Technology-focused Seattle, along with Minneapolis-St. Paul and Raleigh, also had significant drops in downtown vacancies.
2/23/2007 12:39:00 PM - The U.S. national downtown (i.e., central business district) office vacancy rate in fourth-quarter 2006 improved slightly to 14.8% from 14.9% in second-quarter 2006. The year-ago level (fourth-quarter 2005) was 15.6%. The national suburban vacancy rate also fell marginally to 16.4% in fourth-quarter 2006 versus the previous quarter’s 16.5%.
12/18/2006 1:18:00 PM - Among 54 major U.S. urban centres, Charlotte has the lowest office vacancy rate downtown and Honolulu, the lowest in the suburbs, in the latest figures compiled by PPR. New Orleans has the highest vacancy rate downtown, while Boston has the highest vacancy rate in the suburbs.
12/18/2006 12:40:00 PM - The U.S. national downtown (i.e., central business district) office vacancy rate in third-quarter 2006 improved to 14.9% from 15.2% in second-quarter 2006. The year-ago level (third-quarter 2005) was 16.0%. The national suburban vacancy rate fell to 16.5% in third-quarter 2006 versus the previous quarter’s 16.6% and the year-ago level of 17.3%. Overall, the latest quarter metro-wide vacancy rate was 16.0%.
12/18/2006 11:49:00 AM - New Orleans, one year after Hurricane Katrina, has had the most dramatic improvement (i.e., decline) in its downtown office vacancy rate year over year, but the level still remains exceptionally high. Austin, Ft. Lauderdale, Phoenix, Nashville and Salt Lake City have also had higher than 3.0 percentage point year-over-year decreases in their downtown vacancy rates. (Austin’s downtown vacancy rate still remains over 20%, however.)