Office Vacancy Is Still Rising

According to the latest Colliers U.S. Research Report, office vacancy went up in the third quarter 2022 with San Francisco and Seattle posting the largest increases and Dallas and Houston seeing their vacancy rate come down. San Francisco is now above 20% as compared with Manhattan which is at 11%. “Class A asking rates are, for the most part, holding steady, but there are generous concessions on offer.” With respect to sublease space, San Francisco is the most exposed market, with 8.3% sublease availability rate followed by Seattle at 5.6% and Los Angeles at 4.3%. to see this entire report  go here.