Bradford Allen is pleased to share with you our latest office market report.
This half in the suburban office market:
- Leasing activity surpassed pre-pandemic levels, as nearly 2.6 million square feet of office space has been leased year-to-date.
- Absorption levels remained negative at -332,000 s.f. through mid-year 2023.
- Direct vacancy rate decreased to 26.9%.
- The gross asking rate for the market is $26.67 p.s.f.
- Sublet availability slightly declined to 3.9% in Q4/22.
