Latest upload
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READYear-End 2023 Suburban Office Market Report
Bradford Allen is pleased to share with you our latest office market reports. The second half of the year in the suburban office market: Leasing activity remained above pre-pandemic levels with more than 5.2 million s.f. leased through 2023. Absorption remained negative with -930,000 s.f. absorbed through the back half of 2023, resulting in -1.2 million s.f. of net absorption through the year. The direct vacancy rate increased to 28.3%. The average gross asking rate for the market is $27 per s.f.
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READQ3/23 Downtown Chicago Office Market Report
Bradford Allen is pleased to share with you our latest office market report. This quarter in the CBD: - Absorption turned negative with -431,000 s.f. of net absorption through Q3/23, resulting in year-to-date levels of -933,000 s.f. - The direct vacancy rate remained steady, sitting at 19.8% for the CBD. - Available sublease space ticked down to 7.6 million s.f. - The gross asking rate for the market remained at $44 p.s.f.
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READQ2/23 Downtown Chicago Office Market Report
Bradford Allen is pleased to share with you our latest office market report. This quarter in the downtown office market: - Absorption levels turned positive in Q2/23, as more than 64,000 square feet of office space was absorbed this quarter—a significant improvement compared to the negative 1.8 million square feet of absorption in Q1. - Direct vacancy rate remained steady, sitting at 19.2%. - The gross asking rate for the market is $44.25 p.s.f. - Available sublease space increased to 7.8 million square feet in Q2/23.