CBD office vacancy rates ranged between 7% and 28% across 28 major metropolitan markets covered by a recently released report by Jones Lang LaSalle (JLL).
Charlotte and Raleigh/Durham CBDs posted the lowest office vacancy rates of 7.4% and 9.0%, respectively in the second quarter of 2009.
New York (Downtown) and Washington, DC, CBDs follow in the third and fourth positions, with office vacancy rates of 10.8% and 10.9%, respectively. Seattle (Downtown) features as the market with the fifth lowest CBD office vacancy rate, which stood at 12.2%.
Note that the weighted average CBD office vacancy rate of the markets covered by the JLL report was 14.3% in the second quarter of 2009.
Dallas, Detroit and West Palm Beach-Palm Beach County had the highest CBD office vacancy rates among the markets covered by the report, with vacancy rates of 27.2%, 26.5% and 24.0%, respectively.
Atlanta, Jacksonville and Cleveland feature also among the CBD markets with the highest office vacancy rates of 20.1%, 20.1% and 21.1%, respectively.
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