The vacancy rate for Class A office space in the Conshohocken sub-market ticked up in the third quarter of 2016. The second quarter saw the vacancy rate hit a three year low of 7.1%. The rate for the third quarter is 7.7%. Joe O’Donnell of Omega Commercial Real Estate tells us that the difference represents a 21,313 square feet difference.
Class B space also ticked up from 5.8% to 6.0%.
The fourth quarter could see a bigger uptick in the Class A vacancy rate due to the departure of The Judge Group for a larger space in Wayne. The Judge Group, which recently made the move, was occupying 37,000 square feet in West Conshohocken at 300 Four Falls.