U.S. national vacancy rate for the office sector in the third quarter was flat from the second, even as vacancy fell 20 basis points year to date, according to real estate research firm Reis Inc. Asking and effective rents growth for the office sector increased compared with the previous quarter, Reis said in a report. National vacancy rate remained at 16 percent for a third successive quarter, while the year-over-year decline in vacancy was 40 basis points, the company said. Construction activity fell from the second quarter, with 6.4 million square feet of new office construction completed during the quarter.
Read more: Economic Times
