Uncertainty in the Suburbs
The suburban office market may begin to generate more interest as businesses choose to move away from dense, urban environments.
Overall vacancy in the suburbs rose 40 basis points to 22.4 percent, up 80 basis points from a year ago.
Class A vacancy also increased, rising to 23.2 percent, up 80 basis points from a year ago. However, when considering high quality, trophy assets in the suburban office market, vacancy is considerably lower at 17.7 percent.
The suburban office market continued to struggle with the year starting off with 404,853 square feet of negative absorption.