Office Vacancies Little Changed in 1st Quarter
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Office vacancies in U.S. cities were little changed in the first quarter, with Washington maintaining the highest occupancies and downtown Manhattan’s vacancies dropping, real estate services provider Cushman & Wakefield said.
The overall vacancy rate for central business districts throughout the U.S. was 15.2%, unchanged from the fourth quarter and down from 15.3% a year earlier, New York-based Cushman said.
Washington’s first-quarter vacancy rate was 8.5%, the lowest in the U.S. Downtown Manhattan’s vacancy rate fell to 12.9% from 13.5% in the previous quarter.
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