Sep
07
Posted on September 7, 2017
In its latest “U.S. Top Office Metros Snapshot,” Colliers reports that “fundamentals in the 10 major office markets in the U.S. largely remained solid during the second quarter.”
The report finds that vacancy rates were unchanged in three markets, increased in four markets, and declined in three others. “Rents held firm in six of the markets tracked in this report. At the same time, two key factors point to upward pressure on vacancy rates: tenant downsizing and new supply,” the report states.
Some details from the report include:
- “Three markets – Manhattan, the San Francisco Bay Area and Seattle – have office vacancy rates well under 10% and saw no increases in the second quarter.”
- In Houston, vacancy is back above 20 percent.
- “Concerns over the impact of new supply in San Francisco and Seattle are receding, but two markets – Los Angeles and Washington, D.C. – remain exposed to construction risk.”
- Boston and Dallas markets remain solid.
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