Bradford Allen is pleased to share with you our latest office market report.
This quarter in the downtown office market:
Absorption levels turned positive in Q2/23, as more than 64,000 square feet of office space was absorbed this quarter—a significant improvement compared to the negative 1.8 million square feet of absorption in Q1.
Direct vacancy rate remained steady, sitting at 19.2%.
The gross asking rate for the market is $44.25 p.s.f.
Available sublease space increased to 7.8 million square feet in Q2/23.