Signs of Life in the Suburbs
Overall vacancy in the suburbs remained relatively flat, dropping 10 basis points to 22.2 percent since last quarter.
Class A vacancy decreased slightly, dropping to 22.2 percent, down 20 basis points from first quarter.
While year-to-date absorption remained negative, the suburban office market achieved 192,852 square feet of positive absorption in the second quarter as tenants who signed leases late in 2019 moved into their space. Most of the positive absorption came from Class A product.