Joe O’Donnell from Omega Commercial Real Estate sent us a report for the commercial real estate vacancy rates in the Conshohocken sub-market.
The 2018 first quarter report shows a vacancy rate of 5.5%, down from 6.9% in the fourth quarter of 2017. Class B space had a vacancy rate of 3.3%, down from 3.4%.
These low vacancy rates mean that 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.