Therefore, we believe most industrial markets will not experience significant construction
until vacancy declines toward its long - term average.
While the reported number of
vacancies declined in the June quarter, the series has trended upwards for some time and in the June quarter was still more than 10 per cent higher than a year earlier.
We may see an increase in office leasing activity later in the year, but the pace
of vacancy declines and improvements in occupied stock and rent levels is likely to remain unimpressive.
Reis expects the apartment sector to remain strong,
with vacancy declining by the end of the year but not falling below 4 percent.
National vacancy declined from 14.5 percent in 2008 to 13.7 percent as of the third quarter, according to CBRE - Econometric Advisors.
Q3 2014 was particularly successful as
retail vacancy declined, rental rates and absorption increased, and a handful of significant transactions took place, according to a report by Seattle - based brokerage firm Kidder Matthews.
Vacancy declined from 7.6 % to 6.1 % as of June 1998, and about 700,000 sq. ft. of space has been absorbed during the first half of 1998, according to a United Properties market study.
Rising Sales and Falling Vacancies According to data provided by commercial real estate services firm Cassidy Turley, the United States retail sector reported its
first vacancy decline in over five years as the market's recovery gained momentum.
«The bet today is that by the time we see an increase in interest rates or cap rates, we'll have
seen vacancy decline to the range needed to see real positive rent growth,» says Stuart Shiff, co-CEO for San Francisco - based Divco West Properties, which owns some 5 million sq. ft. of office space.
NEW YORK (Reuters)- The U.S. apartment sector posted its
smallest vacancy decline in nearly two years, raising the possibility that the strongest commercial real estate category may be succumbing to the sluggish economy, according to real estate research firm Reis Inc..
Since then, national
rental vacancy declined, spelling out good news for rental property owners who don't want their unit to sit on the market for very long.
Chicago's CBD
office vacancy declined by almost half a percentage point during the first quarter, according to a report from CB Richard Ellis.
With
vacancy declines slowing to a crawl and rent increases constrained by meager wage growth, market observers are wondering whether apartment fundamentals have peaked.
Cassidy Turley reported the first
vacancy declines for the U.S. retail sector in five years as the market's recovery gains momentum.
Strong demand for space and limited new inventory coming on - line in 2016 will facilitate another year of
steep vacancy declines,» notes Marcus & Millichap's forecast.
Los Angeles County
retail vacancy declined to 5.1 percent, and 1.5 million sq. ft. of new retail space is under construction.
Within the healing retail sector, malls are relatively strong, with
national vacancies declining by 20 basis points to 9.0 percent in the first quarter.
The survey, which was compiled based on the recruiter's comprehensive data on advertised roles, also reveals the regional variations in
vacancy decline.
Much of
the vacancy decline can be attributed to a lack of new supply and not a strengthening of demand for space.
Of the 45 affordable housing markets, 38 posted
a vacancy decline in the second quarter.
Four of the six Downtown submarkets had
vacancy declines, while one, World Trade, remained stable and Tribeca posted the market's only increase.