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National Market Reports

National Office Market

3Q18 National Market Reports

The U.S. office market was stable during the fourth quarter of 2019. Absorption was positive and modestly stronger than the quarter prior, but it decelerated compared with the nation's performance during the fourth quarter of 2018. Asking rents rose 1.3% compared with the fourth quarter of 2018. Vacancy declined 20 basis points over the past 12 months. Approximately 14.2 million square feet of new product delivered during the fourth quarter of 2019. The amount of space under construction remains robust and warrants close monitoring in the year ahead. However, overall market conditions suggest the cyclical expansion will continue in 2020.

Average Asking Rent (Price/SF)                 $29.00
Vacancy Rate (%)                   12.9%
Net Absorption (SF)            7,215,709

National Industrial Market

National Industrial Market

The U.S. industrial market experienced continued growth in 2019, as significant demand continues to drive asking rents higher while vacancy remains low. Absorption did moderate in 2019, partly in response to a lack of available product as well as concerns about the global economy and the trade war with China. However, industrial construction reached a new cyclical high in the fourth quarter, as developers seek to capitalize on the persistent, stout demand for modern distribution space.

Average Asking Rent (Price/SF)                $7.41
Vacancy Rate (%)                  5.2%
Net Absorption (SF)       50,622,503


National Office Market Report
4Q19
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National Industrial Market Report
4Q19
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