The second quarter in the Portland Office market ended with a 6.6% vacancy rate. While net absorption totaled a positive 1,160,537 square feet, vacant sublease space increased to 334,810 square feet. The quarter finished with rental rates at $23.81, which remained the same from the first quarter. Five buildings were delivered to the market with 2,503,330 square feet under construction at the end of the quarter.
The second quarter has come to a close with a vacancy rate of 3.7%. Net absorption totaled a positive 713,455 square feet and vacant sublease space increased. Rental rates increased to $8.16 and nine buildings were delivered to the market. Those nine buildings totaled 552,369 square feet and 4,846,902 square feet remain under construction at the end of this quarter.
The past twelve months have seen a rise in multi-tenant industrial vacancy from 17.63% in 2017 to 20.13% in 2018.
The second quarter saw a slight increase in vacancy from 6.3% in Q1, to 6.4% in Q2, indicating that the market continues to move forward at a healthy pace.
At the end of the first quarter of 2018, the industrial market of the Mexico City Metropolitan Area recorded an inventory of 9.6M SQM or 103.7M SQFT of Class A warehouses, concentrated mainly in the Cuautitlan 30%, Toluca 19%, and Tultitlan 17% submarkets.
This Richardson/Plano Sub-Market covers the I-75 corridor from Walnut Street to Hedgcoxe Road and includes Central Plano up to Sam Rayburn Tollway to the North until Alma Road when it drops down to Hedgecoxe Road and Coit Road to the West. The included statistics cover Class A and B office buildings that have more than 50,000 square feet and are either under construction or existing.
The Dallas/Ft. Worth Office market ended the first quarter 2016 with a vacancy rate of 14.4%. The vacancy rate was up over the previous quarter, with net absorption totaling positive 781,041 square feet in the first quarter.
Industrial vacancy rates across the combined markets of Chicago Metro, Southeast Wisconsin, and Northwest Indiana continued to improve at the start of the year. Out of nearly 1.3 billion square feet of inventory within these markets, the amount of vacant industrial product dropped to 7.27% at the end of the first quarter.
TCN Worldwide's State of the Market: Central Edition, 1st Quarter 2016 Prepared by Hugh F. Kelly, PhD, CRE, Consulting Economist to TCNIn this edition: –Overview of National Economic Context –Regional Conditions in the Central States –Commercial Property Investment Trends
With a 5.8% overall vacancy rate in East Plano, options are limited for tenants and Landlords are recognizing the opportunity to raise rates.