US office vacancy rate rises marginally in fourth quarter

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US office vacancy rate rises marginally in fourth quarter

Adding a sweetener over a slowing US economy including its factory activity that faltered to a decade low reading on December, report from a real estate research firm Reis Inc., published on Saturday, the 4th of January 2020, said that the US office vacancy rose marginally to 16.8 per cent over the fourth quarter of 2019 on an annualized basis.

Aside from that, the Reis Inc. research report had also shown that out of the 79 metropolitan areas it had covered under the research, an increase in vacancies was found in more than 33 per cent areas at the same time from a year earlier.

Meanwhile, adding that Chicago, NY and Dallas had witnessed a majority of growth as expected, the Reis Inc. research report published on Saturday (January 4th) said, “Office occupancy growth was much stronger in the fourth quarter; however, three metros saw the lion’s share of the growth: Chicago, New York and Dallas.

” Nonetheless, the Reis Inc. had expressed sheer concerns over the crisis-sickened WeWork, as the Japanese investment conglomerate, SoftBank Corp., had been scuffling to arrange a bailout package of $9 billion for the office-space sharing company, while flagging frets over the future of the company, Reis Inc.

was quoted saying in its Saturday’s (January 5th) research report that the company might have over-expanded and should reconsider some of its leases, which in effect might have raised vacancies in some metropolitan areas.