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National Market Reports

National Office Market

3Q18 National Market Reports

The U.S. office market tightened during the third quarter of 2019. However, absorption decelerated compared with the nation's performance last quarter and was down markedly over the third quarter of 2018. Asking rents rose 2.6% compared with the third quarter of 2018. Vacancy declined 40 basis points over the past 12 months. Approximately 8.9 million square feet of new product delivered during the third quarter of 2019. The amount of space under construction remains robust and is an indicator to watch during the balance of the year. However, overall market conditions suggest the cyclical expansion will continue at least through the end of 2019.

Average Asking Rent (Price/SF)                 $29.29
Vacancy Rate (%)                   12.8%
Net Absorption (SF)             7,525,934

National Industrial Market

National Industrial Market

The U.S. industrial market displayed sturdy fundamentals during the third quarter of 2019, with rising asking rents and continued tight vacancy. Although absorption has moderated in 2019 in response to a lack of available product as well as concerns about the global economy and the trade war with China, leasing velocity remains high. Industrial groundbreakings reached a new cyclical high in the third quarter, as developers seek to capitalize on the sturdy performance of the industrial asset class.

Average Asking Rent (Price/SF)                $7.40
Vacancy Rate (%)                  5.1%
Net Absorption (SF)       40,225,263


National Office Market Report
3Q19
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National Industrial Market Report
3Q19
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