By some measures, the office sector seems to have improved some, according to a new report from Colliers. However, questions remain, and arise, about where the market might be headed

Last year closed out with some positive news, according to Colliers. For example, the Q1 2022 office vacancy rate stands at 14.8%, down from 14.9% in the fourth quarter of 2021. The amount of sublease space has fallen to 199.7 million square feet, from 208.8 million square feet in 2021’s second quarter. Net absorption was up nationally at the end of 2021 to nine million square feet, versus 3.2 million square feet in the third quarter of 2021. “This represents a significant turnaround from the cumulative 153 million square feet of negative absorption seen between Q2 2020 and Q2 2021,” said the report.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.