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Analysis

For the First Time CBD and Suburban Office Vacancies are the Same

One reason is that more space was placed on the market in CBD locations.

By Lynn Pollack | June 23, 2022 at 08:24 AM

Suburban markets are leading the post-pandemic office sector recovery, with absorption hitting 2.2 million square feet in the first quarter.

By contrast, CBD office markets posted negative 2.6 million square feet of absorption during the same period. CBDs have struggled since the onset of the downturn, with vacancy rates rising by 470 basis points over the past eight quarters compared to 280 basis points in the suburbs.

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