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During the COVID-19 pandemic, demand for medical office space stayed at pre-pandemic levels. At the end of 2023, the medical office vacancy rate for the top 100 largest metro areas was only 7.25% ...
For some context, by the end of last year, AI companies had leased 3.9 million square feet of office space, a 50% increase from the year earlier—and made up roughly 28% of leasing activity ...
In the United States, for example, according to the Seattle Times office space was "tight" in Seattle and Bellevue in 2013. [4] However, in 2023, the office vacancy rate in the United States had risen to 12.9%, which was seen as the highest ever since one data collection firm began tracking such statistics in the year 2000. [5]
Rental rates for office and retail space are typically quoted in terms of cost per floor-area–time, usually cost per floor-area per year or month. For example, the rate for a particular property may be $29 per square-foot per year ($29/sq. ft/yr) or $290 per square-meter per year ($290/m 2 /yr).
Rental vacancy rates, for example, which are one marker of the balance of housing supply, have declined across the country. While, in a balanced market, rental vacancy rates should fall between 7 and 8 percent, only one U.S. census region, the South, achieved target levels on average in its metro areas as of 2021. [15]
A deepening glut of office space is to blame. Office vacancies across the metro rose to a record 13.6% at the end of last year, according to a new report from Colliers. ... the office vacancy rate ...
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