Most of the recent uptick in vacancy came from new supply. Demand, meanwhile, was relatively strong: Net absorption, which measures the change in the amount of leased and occupied space compared with the prior period, rose by more than 427,000 square feet during the second quarter, according to CBRE. Comment: Note that these are occupancy rates based on how much space is under lease. Actual utilization based on entry card swipes has ticked up a bit recently to just over 50%.
More supply…yeah. What’s the deflection going to be when the next report comes out showing more and more available space lacking tenants?
The Chicago Mediots will probably blame President Trump.
Giddyap
2 years ago
At this point — in the 4th year of the work from home shift — anyone who hasn’t gone back to the office is NEVER going back
debtsor
2 years ago
Oh, I don’t know, looking back, maybe shutting down office buildings for 15 months (longer than state any for 1,000 miles in any direction), and encouraging criminality to fill the void, was a REALLY REALLY BAD IDEA. Who would have guessed? Every Democrat politician in the US was rewarded for their monumentally stupid policy choices, so who knows.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
More supply…yeah. What’s the deflection going to be when the next report comes out showing more and more available space lacking tenants?
The Chicago Mediots will probably blame President Trump.
At this point — in the 4th year of the work from home shift — anyone who hasn’t gone back to the office is NEVER going back
Oh, I don’t know, looking back, maybe shutting down office buildings for 15 months (longer than state any for 1,000 miles in any direction), and encouraging criminality to fill the void, was a REALLY REALLY BAD IDEA. Who would have guessed? Every Democrat politician in the US was rewarded for their monumentally stupid policy choices, so who knows.