Strong Leasing Velocity Points to a Positive Office Market
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Vacancy and Absorption Trends
The first quarter of 2018 brought a total multi-tenant absorption of 126,838 square feet, which brings the total vacancy rate to 14.7%. This is the second quarter in a row with a positive absorption figure of over 100,000 square feet, a sustained growth pattern that has not happened since 2015 due to a number of corporate consolidations and new single-tenant construction.