Q3/23 Downtown Market Report

Bradford Allen is pleased to share with you our latest office market report.

This quarter in the downtown office market:

  • Absorption turned negative with -431,000 s.f. of net absorption through Q3/23, resulting in year-to-date levels of -933,000 s.f.
  • The direct vacancy rate remained steady, sitting at 19.8% for the CBD.
  • Available sublease space ticked down to 7.6 million s.f.
  • The gross asking rate for the market remained at $44 p.s.f.