Office vacancy rates nationwide fell one-tenth of a point at the end of the 3rd quarter compared with the end of the 2nd quarter according to REIS, a real estate research firm. "We're in the early innings of a recovery here," Reis economist Ryan Severino said. While the vacancy rate fell, the average effective office rents increase by a factor of 5 (+.5%) from the drop in the office vacancy rate to $22.39 per square foot. This is up 1.6% from a year earlier.
Office Space Negotiations , Office Vacancy Rate