Commercial Office Vacancy Rates Stay Steady in Fourth Quarter of 2018

The commercial real estate market in the Conshohocken sub-market stayed steady from the 3rd to 4th quarter in 2018. In the 3rd quarter, the vacancy rate for Class A office space was 6.1% with a $34.00 per square foot rental rate. Class B office space had a vacancy rate of 3.8% with a rental rate of $25.50 per square foot.

In the 4th quarter of 2018, the vacancy rate of Class A office space ticked up to 6.2% and the rental rate stayed the same. Class B office space ticked down 3.7% and the rental rate went down by 50 cents per square foot.

Charts courtesy of Omega Commercial Real Estate.