Suburban Office Markets Post Positive Net Absorption Year-To-Date

The Chicago suburban office market year-to-date absorption totaled 130,000 SF, largely due to strong demand for class “A” space. The vacancy rate measures 18.37% for the overall suburban office market and 15.43% vacant for class “A” space. The Chicago downtown office market posted positive net absorption second quarter, driving the year-to-date figure to 500,000 SF. The vacancy rate improved second quarter, declining to 11.5% vacant. Three of the the five CBD submarkets posted a vacancy figure less than the overall rate, ranging from 9 to 10% vacant.