The vacancy rate dropped from 8.1% to 7.9% at the end of the fourth
quarter of 2018, although that was still at the highest level since the
end of 2013. Class A vacancy decreased during the fourth quarter to
10.8%, but was up by almost six percentage points for the year. This
was mainly a result of the large Bank of America vacancy at 1 Fleet
Way. Class B vacancy has been slowly trending downward, ending the
year at 6.5%.
2019 | The Year Ahead
According to Moody’s Analytics, Scranton-Wilkes Barre-Hazleton’s
economy will continue to grow but at an “unremarkable pace”.
The sector with the highest potential for employment growth,
Transportation and Warehousing, will not directly benefit the office
2018 Q4 Northeastern Pennsylvania Office Market Research & Forecast Report