Bradford Allen is pleased to share with you our latest office market report.
The second half of the year in the suburban office market:
- Absorption levels declined as -800,000 square feet was absorbed through the first half of 2024.
- The direct vacancy rate held steady at 24%.
- Available sublease space on the market decreased to 2.7 million square feet.
- The average gross asking rate is $27 per square foot.