Joe O’Donnell from Omega Commercial Real Estate sent us the data for the commercial real estate vacancy rates in the Conshohocken sub-market. In the fourth quarter 2017 vacancy rates ticked up.
In the first quarter of 2017 the vacancy rate for Class A space was 5.6% and 5.0% in the second quarter. For the third quarter the vacancy rate decreased to 4.7%. In the fourth quarter it rose to 6.9%.
Class B space had a vacancy rate of 4.5% in the first quarter and 3.4% in the second quarter. The Class B’s vacancy rate decreased to 3.0% in the third quarter and rose to 3.4% in the fourth quarter.
Even with the slight rise in vacancy, there continues to be very little available space for larger tenants in the newer and tall office buildings. The same goes for the Class B space which represents the older buildings.