Many in CRE have wondered when the office market would finally stabilize and calm. Probably not today, as vacancies have risen to 19.8%, up from 2023 Q4's 19.6%, according to Bloomberg.
Though that isn't as bad as it sounds.
"'The office stress isn't quite done yet,' Thomas LaSalvia, Moody's head of commercial real estate economics and an author of the report, said in an interview Tuesday. 'But, recent positive economic indicators are helping to prevent a perfect storm in the office sector,' he said."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
