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April 10, 2012

Office vacancy rates drop below 10% for space on the Eastside

By MARC STILES
Journal Staff Reporter

The Eastside office market is the first in the region to notch a vacancy rate of less than 10 percent, according to Kidder Mathews, and for the first time in years there’s talk of new construction.

Rents still are not high enough to justify new construction, but another commercial real estate brokerage says this is changing. The Broderick Group predicts that rental rates will spike as vacancy rates dip to 7 percent in 2016.


 
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