2018 Q4 Northeastern Pennsylvania Office Market Research & Forecast Report
2018 | The Rear-View Mirror
- 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