The Latest US National Office Statistics The overall office vacancy is at 15%, and this is true for both suburban and CBD markets. There is almost 122 million square feet of new office space under construction, 27 million of this in New York City Metro, 9 million in the San Francisco Bay Area, and 8.5 million in Washington D.C. Class A lease rates nationwide averaged $40.76/sf, with San Francisco leading the pack at $81/sf followed by Manhattan at $81/sf and Boston at $70/sf.
The overall office vacancy is at 15%, and this is true for both suburban and CBD markets. There is almost 122 million square feet of new office space under construction, 27 million of this in New York City Metro, 9 million in the San Francisco Bay Area, and 8.5 million in Washington D.C. Class A lease rates nationwide averaged $40.76/sf, with San Francisco leading the pack at $81/sf followed by Manhattan at $81/sf and Boston at $70/sf.
