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.