Sales volume and prospecting activity held steady in the third quarter. WCRE states that third quarter leasing activity was higher in Camden County, and particularly in Cherry Hill, but fell for the region overall. Gross leasing absorption was positive, but trended lower quarter-over-quarter.
Class A vacancy in the suburban region remained flat at 22.3%, however the vacancy rate in high quality, trophy assets in the suburban office market ended the third quarter at 16.6%, down 170 basis points from the same time period in 2017.
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