ORLANDO, FL – Cushman & Wakefield released midyear 2011 statistics for the U.S. industrial market that show the overall vacancy rate for Orlando has declined. At the same time, the overall vacancy rate for the U.S. has declined to a two-year low.
Orlando’s overall average vacancy rate declined to 14.0 percent at midyear 2011, down from 14.6 percent at this time last year, and down from 14.5 percent at the end of the first quarter of 2011.
Meanwhile, the overall vacancy rate for the U.S. declined to 9.7 percent at midyear 2011, down from 10.6 percent at this time last year, and its lowest level since the first quarter of 2009.
With a 0.5 percentage point decrease from 10.2 percent at the end of the first quarter, it was the biggest quarterly decline in the U.S. industrial vacancy rate since the first quarter of 1997, when the vacancy rate dropped 0.6 percentage points to 7.8 percent.
The U.S. markets with the highest quarter-over-quarter declines included the San Francisco Peninsula (declined from 8.5 percent to 7.1 percent), Boston (declined from 19.6 percent to 18.7 percent), Northern New Jersey (declined from 10.0 percent to 9.2 percent) and Silicon Valley, Calif. (declined from 12.7 percent to 11.9 percent).
For a complete copy of the company’s news release and chart showing national vacancy rates, please contact Brook Hines, Tel: 407-541-4401, brookhines@cushwake.com
No comments:
Post a Comment