Originally posted by Posted by justinp in Commercial Property Research on August 12, 2012
Summary: "While six consecutive quarters of positive new absorption provide evidence that the sector has made it through one of the worst contractionary periods of the last three decades, these levels remain incredibly weak by historical standards. In fact, demand for office space was so weak that even in the face of little new supply—just 1.6 million square feet was completed nationwide in the second quarter—the level of net absorption seen during the quarter was insufficient to generate a decline in the vacancy rate, which remained at 17.2%. Of course, with such lackluster job growth it should come as no surprise that the sector continued to struggle."
Savannah's office market sees a change between 2012 Q1 and Q2 of -.6% in office rents and change of -10bps in vacancy. Meanwhile inventory has increased 2.5%. These statistics are courtesy of REIS Reports.
The original article is found here: Office Markets Continue Trudging Along
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
Summary: "While six consecutive quarters of positive new absorption provide evidence that the sector has made it through one of the worst contractionary periods of the last three decades, these levels remain incredibly weak by historical standards. In fact, demand for office space was so weak that even in the face of little new supply—just 1.6 million square feet was completed nationwide in the second quarter—the level of net absorption seen during the quarter was insufficient to generate a decline in the vacancy rate, which remained at 17.2%. Of course, with such lackluster job growth it should come as no surprise that the sector continued to struggle."
Savannah's office market sees a change between 2012 Q1 and Q2 of -.6% in office rents and change of -10bps in vacancy. Meanwhile inventory has increased 2.5%. These statistics are courtesy of REIS Reports.
The original article is found here: Office Markets Continue Trudging Along
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
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