Since mid-year 2016, Beltline vacancy has increased by 1.4%% to end Q3 at 19.7%. Given that negative absorption occurred among headleases versus subleases at a ratio of 2:1, the distribution between headlease and sublease space was adjusted to 74% and 26%, respectively. This quarter witnessed net absorption of negative 102,878 sf.
Overall vacancy increased by 1.1% during the third quarter to 22.3%. The distribution of vacancies by suburban building class changed slightly as a result of 106,000 sf of B Class vacancies, plus approximately 158,000 sf of unleased A Class space among several new Suburban developments. An additional 159,000 of sublease space was also placed on the market.
Over the third quarter of 2016, the vacancy rate in Calgary’s Downtown market exceeded 22.%. This represents a record high, comprising 9.2 million square feet of space available for lease within a 41.6 million square foot (msf) inventory. Despite some activity among A Class and C Class sublease spaces, the overall trend of negative absorption continued at roughly the same pace as we’ve seen since the beginning of 2015.
Welcome to Bilfinger GVA’s central London office analysis; our detailed view of the market in Q2 2016. The B word—It actually happened! Despite the fact that the EU referendum has cast a shadow over the last year, when the results came through, it seems that nobody actually expected it. The fallout of the decision to leave the European Union is still to be fully understood but there has clearly been quite a shock wave throughout the whole of the UK and the central London office market.
The Dallas/Ft. Worth Office market ended the second quarter 2016 with a vacancy rate of 14.3%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 1,760,334 square feet in the second quarter.