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