 |
| Jon Southard |
Los Angeles, CA -- The
U.S. commercial real estate market strengthened strongly across all property
types in the third quarter of 2014 (Q3 2014), with the office sector delivering
its best performance in eight years, according to the latest analysis from CBRE
Group, Inc.
The office vacancy rate declined by 40 basis points (bps)
from the previous quarter to reach 14.1% in Q3 2014 – the sharpest drop since
Q2 2006.
In Q3 2014, national industrial availability declined 20 bps
from the previous quarter to 10.6%.
Retail availability fell to 11.5%, a 20 bps decrease for the
quarter.
“The real estate recovery clearly gained in strength in the third
quarter as all property types saw notably improved demand trends,” said Jon
Southard, Managing Director of CBRE’s Econometric Advisors group.
“Especially important, office tenants showed greater confidence in expanding
their footprint and finally appear to be shaking off the lingering effects of
the recession.”
For a complete
copy of the company’s news release, please contact:
Ronald J. Rogg, CCIM
Executive Vice President
T +1 407 839 3194
No comments:
Post a Comment