Colliers recently published it's 4th Quarter 2010 Office Highlights report for the US and Canada.

Summary:

• Office Markets Look and Feel a Lot Better - But Higher Rents Still Some Way Off.
• U.S. office vacancy rate down sharply - U.S. office market has unquestionably turned the corner.
• Office occupancies up for a third consecutive quarter.
• Rent picture again mixed.
• Office construction slows to a trickle.

Some other interesting results:

• Highest US Downtown Office Vacancy Rate - San Jose/Silicon Valley at 27.9% (down from 35% the previous quarter)
• Highest US Suburban Office vacancy Rate - Las Vegas at 38.6%
• Most Absorption for 2010 - Washington DC metro area at over 4.1 million square feet (Midtown Manhattan a close second at nearly 3.6 million square feet)
  
• Lowest US Downtown Vacancy Rate - Raleigh/Durham at 5.3% (with a 33.8% suburban vacancy rate)
• Averages -  Downtown Vacancy Rate 16% - Suburban Vacancy Rate 18.3%
  

More on Office Vacancy Rate

Here is a novel idea, get an Executive Suite rental on EBay. Two Las Vegas Area Executive Suites have each placed an office on EBay to allow potential occupants to bid on them.  The bidding price starts at $.99 per month with an initial term of 3 months at the bid price. One executive suite auction has already closed at $279.50 per month, well below the usual price of $600 - $800 per month. Both require security deposits of $400 - $800 to move in. The other one is still open for bidding. This is a very creative marketing idea in a down market.  Depending on whose numbers you use, the office space vacancy rate in Las Vegas is among the highest in the country at around 17%. The hope is that after the new tenant has been in the office for a few months and experienced the office and services provided by the center, they will choose to stay on at a higher price.

Find an Executive Suite in Las Vegas

Las Vegas Office Market Information