Investors Realty 2016 Year End Office Report

OFFICE MARKET HIGHLIGHTS:

One year ago we thought the activity in the market justified an upgrade from stable to robust and the overall results for 2016 lived up to that label with 148 transactions accounting for just over 1.1 million sq. ft. leased. Further, the overall market racked up 231,231 sq. ft. of positive absorption. Plenty of momentum remains, but individual results will be varied as it is a mixed market.
2016 saw the completion of six significant office buildings consisting of 275,583 square feet
The overall market vacancy ended 2016 at 10.9% which is surprisingly unchanged from year end 2015