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Leasing Activity Remains Steady, Positive Net Absorption Recorded As Vacancy Rate Begins To Recede
The Tri-Cities office market shows signs of a recovery as vacancy rates have started to decline from last quarter’s high of 11.5% to 10.8% this quarter. Part of this reason for this vacancy rate decrease was a lowering of average asking lease rates on the part of landlords. The average asking lease rate for the Tri-Cities office market dropped slightly from $3.05 last quarter to $3.01 this quarter, the first rental decrease in over two years for this market.
Contact Thomas Galvin at 909.937.6309 for more information.
  OFFTRI08Q2.pdf
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