The future of the traditional office space is unclear as vacancy rate hits record high, says National Association of Realtors
The future of the traditional office space is unclear, the National Association of Realtors said. The office vacancy rate rose to a record high of 12.9% in the first quarter from 12% a year ago. The office vacancy rate rose to a record high of 12.9% in the first quarter from 12% a year ago, representing 72.9 million more square feet available to lease. Class A offices — high-value properties that often have above-average rent — had a vacancy rate of 17.9%. Houston, Dallas-Fort Worth, and San Francisco, led the office vacancy rise.
Source: Economic Times May 03, 2023 05:33 UTC
