Costar's Mid-year National Office Space Report is out with some very interesting and comprehensive information included. The report is a very interesting read. It starts out with a broad overview:
"The U.S. Office market ended the second quarter 2012 with a vacancy rate of 12.1%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 20,718,242 square feet in the second quarter. Vacant sublease space decreased in the quarter, ending the quarter at 48,602,935 square feet. Rental rates ended the second quarter at $21.38, an increase over the previous quarter. A total of 160 buildings delivered to the market in the quarter totaling 6,946,279 square feet, with 59,338,973 square feet still under construction at the end of the quarter."
But it also gets into much more detailed information by office market. I thought that one of the more interesting charts included was that of the historical office space rental rates.
Just a little bit of a roll since 4Q 2000 and has been pretty flat over the past 6 quarters. If I were a pure technician, I would say the chart is getting ready to bump up again. We will see.