{"id":1004141643,"date":"2016-04-12T04:55:43","date_gmt":"2016-04-12T12:55:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004141643"},"modified":"2020-05-11T23:45:33","modified_gmt":"2020-05-12T07:45:33","slug":"economy-watch-office-vacancy-down-in-most-markets-but-up-overall","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-office-vacancy-down-in-most-markets-but-up-overall\/","title":{"rendered":"Economy Watch: Office Vacancy Down in Most Markets But Up Overall"},"content":{"rendered":"<p>By Dees Stribling, Contributing Editor<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Van-Buren-Office-Park-YardiMatrix.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004140742\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/northern-virginia-office-industrial-portfolio-commands-90-5m\/van-buren-office-park-yardimatrix\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Van-Buren-Office-Park-YardiMatrix.jpg\" data-orig-size=\"640,512\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Van Buren Office Park, Herndon, Va.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Van Buren Office Park, Herndon, Va.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Van-Buren-Office-Park-YardiMatrix.jpg?w=640\" class=\"alignright wp-image-1004140742 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Van-Buren-Office-Park-YardiMatrix.jpg\" alt=\"Van Buren Office Park, Herndon, Va.\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Van-Buren-Office-Park-YardiMatrix.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Van-Buren-Office-Park-YardiMatrix.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Vacancy in the U.S. office market edged up by 10 basis points during the first quarter of 2016, rising to 13.2 percent, according to the latest quarterly report (released Monday) on the market by <a href=\"https:\/\/www.cbre.com\/about\/media-center\/Q1%202016%20US%20Office%20Vacancy\" rel=\"nofollow\" target=\"_blank\">CBRE Group Inc.<\/a> Even with the increase, the national office vacancy rate remains at its lowest level since 2008.<\/p>\n<p>The overall national office vacancy rate has fallen 70 basis points over the past four quarters. Also, despite the slight Q1 increase, vacancy continued to improve in most places, with rates falling in 33 U.S. markets, rising in 25, and remaining unchanged in five. Suburban vacancy remained at 14.7 percent, while downtown vacancy increased by 10 bps, to 10.4 percent.<\/p>\n<p>The small rise in the national vacancy rate was fueled by significant new supply in some markets, such as Boston, Washington D.C., Dallas and Orange County. Not only that, Washington had negative office space absorption and Dallas only modest absorption, trailing this new supply.<\/p>\n<p>On the other hand, Detroit recorded one of the largest quarterly declines in vacancy, 130 basis points, while Nashville, Tenn., Louisville, Ky., Columbus, Ohio, Cleveland, Milwaukee, San Diego and Seattle all declined by 60 basis or more. Overall, markets in California and the Southeast saw the greatest improvement in the last four quarters. Among these were San Jose, Calif. Nashville, Oakland, Calif., Detroit, Jacksonville, Miss., Orlando and Atlanta.<\/p>\n<p>According to CBRE, the nation\u2019s lowest office vacancy rates in Q1 2016 were in San Francisco (6.3 percent), Nashville (6.6 percent), Austin, Texas (7.7 percent), Albany, N.Y. (8 percent), San Jose and Raleigh, N.C. (8.7 percent).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBRE Group&#8217;s latest quarterly office market report shows that while the national vacancy rate edged up in 2016, it still remains at its lowest level since 2008. <\/p>\n","protected":false},"author":1269,"featured_media":1004140742,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,23891,21742,21747],"tags":[],"class_list":["post-1004141643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-national","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Economy Watch: Office Vacancy Down in Most Markets But Up Overall - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-office-vacancy-down-in-most-markets-but-up-overall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Office Vacancy Down in Most Markets But Up Overall\" \/>\n<meta property=\"og:description\" content=\"CBRE Group&#039;s latest quarterly office market report shows that while the national vacancy rate edged up in 2016, it still remains at its lowest level since 2008.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-office-vacancy-down-in-most-markets-but-up-overall\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-12T12:55:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-12T07:45:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Van-Buren-Office-Park-YardiMatrix.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-office-vacancy-down-in-most-markets-but-up-overall\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-office-vacancy-down-in-most-markets-but-up-overall\\\/\"},\"author\":{\"name\":\"the Editors of Commercial Property Executive\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1b82b91678533ae5d40e3240086a42bb\"},\"headline\":\"Economy Watch: Office Vacancy Down in Most Markets But Up Overall\",\"datePublished\":\"2016-04-12T12:55:43+00:00\",\"dateModified\":\"2020-05-12T07:45:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-office-vacancy-down-in-most-markets-but-up-overall\\\/\"},\"wordCount\":265,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-office-vacancy-down-in-most-markets-but-up-overall\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/03\\\/Van-Buren-Office-Park-YardiMatrix.jpg\",\"articleSection\":[\"Development\",\"National\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-office-vacancy-down-in-most-markets-but-up-overall\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-office-vacancy-down-in-most-markets-but-up-overall\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-office-vacancy-down-in-most-markets-but-up-overall\\\/\",\"name\":\"Economy Watch: Office Vacancy Down in Most Markets But Up Overall - 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