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Vacant space available from landlords plus sub-lease space dropped to 15.9% at the end of 2010, compared to 17.2% in July. In addition, the office market posted modest net absorption of 8,959 square feet.
Both Class A space and the overall leasing market for the CBD improved during 2010. Class A availability rate dropped from 18% at mid-2010 to 15.8% by year’s end. The overall CBD availability rate also dropped to 15.6% from 16.7% at midyear.
The suburban market improved as well with the Class A availability rate dropping to 20.9% from 21.8% at mid-2010. The overall Suburban availably rate was down to 16% from 17.4% at midyear.
Guess I will just post this here. Class A vacancy rate in the CBD continues to drop at a steady pace. According to Colliers latest report, it is now at 5.99%: http://www.colliers.com/~/media/File...reenville.ashx
I'm curious to see how it holds up next year though. I have several friends at lots of different companies in different industries talking about expecting slow years and impending layoffs (not massive but cutbacks for 2013). In my industry and my wife's it is looking the same way as well.
I'm curious to see how it holds up next year though. I have several friends at lots of different companies in different industries talking about expecting slow years and impending layoffs (not massive but cutbacks for 2013). In my industry and my wife's it is looking the same way as well.
That isn't exclusive to this area. Thank the American electorate for that.
That isn't exclusive to this area. Thank the American electorate for that.
oh I definitely agree!
I wasn't trying to imply it was limited to Greenville. I was just saying it will be interesting to see how this holds up in the next year which doesn't look to be too strong.
I'm curious to see how it holds up next year though. I have several friends at lots of different companies in different industries talking about expecting slow years and impending layoffs (not massive but cutbacks for 2013). In my industry and my wife's it is looking the same way as well.
I think you are right in one respect, there is a decent amount of tenant relocation within the downtown area. When the vacated space comes open, vacancy rates may see upward pressure. For instance, Liberty Square has about 160k listed for rent. If that is added to the current inventory, the vacancy rate for class A could rise dramatically. Hope they find some tenants to backfill space.
As for politics, let's leave that for another thread.
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