Those with a stake in the US office market should take encouragement from “the steady drumbeat of vacancy declines,” even if the drum isn’t playing at the fastest pace imaginable, says Ryan Severino at Reis Inc. The New York City-based research firm says office vacancies nationwide dropped 10 basis points during the first quarter to reach 16.2%, a slower decline than the 20-bps seen in Q4 2015 but still ahead of supply growth.
Office Demand Edges Past New Supply