Blank Space: no....not the song

Sep 27, 2021 | Jeremy Goldfarb


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While I hate to admit this in a public forum, I quietly enjoy the odd Taylor Swift song. It is definitely a monumental left turn from the normal music blaring from my home or car speakers. 

 

Blank space huh? Well....that is what the commercial office space market in this country looks like. In fact, a whopping 15.7% national commercial office vacancy rate was exhibited in the third quarter according to a report released by CBRE

 

While the  third  quarter of  2021 offers  some  good  news  for  the office  segment,  it  also  marks  the passage  of  a  sobering  milestone: the  national  vacancy  rate  has reached  15.7%,  its  highest  point since  1994,  surpassing  the vacancy  levels  of  the  dot-com bubble  and the global  financial crisis.

 

Not a pretty picture below. We will be keeping a sharp eye on this one.