SAN FRANCISCO—Tightening Bay Area markets including downtownSan Francisco, Oakland, and theSilicon Valley figure heavily in a recent office occupancysurvey from commercial real estate services firm Cushman& Wakefield.

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The nation's CBD and suburban office markets at the endof the third quarter remained on pace to achieve theirlowest vacancy rates and highest occupancy gains in more thanyears. The company's latest research findings, released Thursday,show CBD growth slightly outpacing that of the suburbs, as measuredby absorption and leasing as a percentage of inventory.

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New York's MidtownSouth and San Francisco posted the lowest CBD vacancyrates, at 8.5% and 8.6%, respectively.

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Non-CBD office vacancy ended thequarter at 16.6%, the lowest national rate since the fourth quarterof 2008. Suburban San Francisco (7.5%) and theSilicon Valley (10.3%) represented the marketswith the lowest vacancies. The Oakland marketrecorded the largest year-over-year uptick in rent, growing19.1% to $30.77 per square foot.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.