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Office Rents Have Stabilized

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According to a recent article in the Finance and Commerce CCIM Report "Nationally, office vacancy rates stood at 19.5 percent in the third quarter of 2010, about the same as in the second quarter and just 50 basis points above the rate in the third quarter a year ago. Vacancy and rental rates across all property types were in a stabilization pattern in the third quarter of 2010. Rents are now 6 percent to 18 percent below their prerecession peak... Office rents are down 12 percent."

More news to show that we have hit bottom in the office space market and will begin the slow climb out.

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