Office occupancy continues its slog and now is measured as worse than the Great Recession, according to a new report from CoStar.
Both vacancy (at 12.9%) and availability (at 16.4%) are at record highs. Vacancy has increased by 333 basis points since the end of 2019. Availability has increased 410 basis points over the same period.
"The spread between the two metrics has rarely been as wide and suggests room for vacancy to increase further," the report said.
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