The National Office Market Worsens But At A Slower Pace

The relative good news is the vacancy increases in the office sector is slowing. The U.S. office vacancy rate rose for the sixth consecutive quarter in Q2 2021.  Asking rates for the most part are holding firm but concessions have increased, meaning effective rents have dropped. According to a recently released Colliers report, “Combined net absorption across the top 10 markets was negative 24.4 million square feet in Q1 2021 and negative 9.1 million Q2 2021.   Download Full Report