U.S. Office Market Shows Further Signs of Weakening as Economy Contracts

For the fourth consecutive quarter, U.S. office market gave back space during the fourth quarter, helping to push the national vacancy rate up for the fifth consecutive period. A modest supply of office development also come on during the fourth quarter, again helping to put upward pressure on the national vacancy rate Rents accelerated downward as weakness in the general economy became more apparent with downtown lease rates in particular falling sharply.

NA Office Highlights 4Q 2008.pdf