Browse Tag: tenant

When High Vacancy Rates Persist Even As The Economy Recovers

Jim Garringer, CCIM, SIOR

Speaking in national terms, employment growth is tepid, and the pace of economic recovery is not what anybody would consider ideal.  These trends apply unevenly across regions and markets, meaning that in some places, recovery is presenting a “new normal” of economic growth that nonetheless includes a commercial property hallmark of economic recession: high vacancy rates.

The disconnect between national trends and some local realities is easily found: national declines in vacancy for office, retail, industrial and apartments are loudly touted  but not as prominent are reports (taking southwestern Florida only as a handy example — apologies to any Gators) of office vacancy rates mired in the high-mid teens. 

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