Hampton Roads Office Snapshot 2017 Q3
Author: Statia Gibson
Date Published: 10/01/2017
The Hampton Roads office market ended the third quarter with a healthy vacancy rate of 9.3%, down from the previous quarter. The conversion of functionally obsolete office buildings that have been converted to multifamily contributed to the decrease in vacancy. Net absorption was positive at 69,043 square feet. Rental rates were $17.00, a decrease from the second quarter.