More of the Same, but Getting Better!
With the first quarter of 2021 in the books, we are experiencing much of the same as we did in 2020 to begin the year. The overall vacancy rate has increased to 19.8 percent, marking yet another high watermark for vacancy. Overall weighted asking rents decreased to $3.19 from $3.22 marking the first decrease in asking rates in nearly three years. Although the North I-680 Corridor’s Class A office market is currently reeling, there are some silver linings as well as reasons for optimism in the near future.
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