Q3 2014 Overview
- With overall office vacancy rates at 15.4%, product is available to support continued growth for the foreseeable future.
- Large blocks of space are anticipated to be taken down throughout the 4th quarter and into the new year.
- The supply of sublease space continues to remain a non factor, accounting for less than 1% of the total market.
- Class B space continues to struggle to attract new tenants as there is a general move up to higher Class A product that offers better parking and more amenities for the office user.