Research

"Baltimore's vacancy rate reached 8.6% at the end of Q3, marking a 50-basis-point (bps) increase from the previous year, as demand remains soft amid economic concerns."

"Vacancy continues to rise, reaching 6.8%. Year over year, vacancy has increased by 170 basis points (bps), signaling slightly softer market conditions in the coming months."

"Vacancy has continued upward, climbing 40 basis points (bps) from Q2 and 230 bps year over year. Recently constructed inventory continues to plague the market as inventory built in 2023 and 2024 make up 4.3% of total market vacancy."

"Vacancy increased by 60 basis points (bps) in the third quarter to 5.9%, while net absorption was negative for the fifth consecutive quarter tallying-583,807 square feet (sf). Much of this negative movement stemmed from the North County."

"Nashville's vacancy rate rose 40 basis points (bps) quarter over quarter to 6.3%, the highest in five years. Over 7.7 million square feet (msf) of deliveries year to date outpaced net absorption of just 3.0 msf, leaving tenants with numerous space options."

"The Raleigh vacancy rate rose 20 basis points (bps) quarter over quarter to 5.6%, the highest in seven years, driven by weak year-to-date net absorption of 850,000 square feet (sf), just 40% of the 2.1 million square foot (msf) year- to-date average over the last five years."

"Vacancy increased by 260 basis points (bps) year over year in the third quarter to 7.0%, while net absorption was negative for the third consecutive quarter, totaling 225,663 square feet (sf). Much of this negative movement was from the Oakland submarket."

"Edmonton continues its lengthy streak of positive absorption dating back to 2020. The Nisku/Leduc submarket remains very active and has driven most of the positive absorption this quarter."

"Occupier flight to quality remains prevalent as newer, high-quality office options attract strong demand, especially from local companies who are growing"

"Positive absorption alongside slowdown in deliveries maintains low vacancy levels"