Office Vacancy Rate Higher in Duke City in Q4

NM Business Journal - Albuquerque office reports an 18.7 percent office vacancy rate for the fourth quarter of 2011 and projects lethargic leasing activity in the new year in the metro region. The Q4 rate rose above the third quarter office vacancy rate of 18.3 percent. There was more than 67,000 square feet of negative absorption in the fourth quarter and for the year, it was more than 171,000 square feet. Office remains the most sluggish category in commercial real estate. The office vacancy rate grew by 54 basis points in 2011 and would have been worse had it not been for the lack of construction starts. There was just one building, REDW’s 47,000-square-foot headquarters, constructed by a private company in the Duke City in 2011 and it contained the vacancy rate. Read full story here: News New Mexico

Office Vacancy Rate Higher in Duke City in Q4