Newspaper article THE JOURNAL RECORD

National Vacancy Continues Its Slow Decline

Newspaper article THE JOURNAL RECORD

National Vacancy Continues Its Slow Decline

Article excerpt

Last year was definitely a good year for commercial real estate nationally. Even amidst continuing economic challenges, almost every major sector in the industry posted positive gains. Of course, some sectors posted much larger gains than others, but overall it is safe to say that the industry is indeed well into the recovery process.

CB Richard Ellis reflects this point in its year-end data, stating that the industry is clearly in the midst of a gradual recovery. Here is a quick breakdown of CB Richard Ellis' year-end data for 2011:

Office

Office market dynamics steadily improved throughout the year, resulting in vacancy declining 50 basis points from year-end 2010 to 16 percent. Downtown submarkets slightly outpaced the suburban markets during the fourth quarter of the year, with a decline of 60 basis points compared to a decline of 40 basis points in the suburbs.

Industrial

Last year proved positive for the industrial market, according to CB Richard Ellis. …

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