VIEWS: 1 PAGES: 2 CATEGORY: Business & Economics POSTED ON: 5/30/2010
The US office market showed continued signs of softening during the second quarter of 2008, as rising vacancies and overall tenant uncertainty helped make for a lackluster midpoint of 2008, according to Colliers International Property Consultants Inc. The slowdown in office space demand is consistent with a more sluggish national economy and job losses, particularly in markets tied to housing or financial services. Nationally, class-A vacancy rates increased half a percentage point in both downtown and suburban markets, while class-B and class-C vacancy rates increased by a more muted 8 basis points, from 13.63% in the first quarter to 13.71% in the second quarter.
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