News
CBD Vacancy Rates Hold Steady
June 25, 2015
Andrew Horne/Wikimedia Commons
Good news for the Loop's office vacancy rates. Direct vacancy in the CBD on MB Real Estate's index held steady for the fifth straight quarter at 10.7%. The index looks at vacancy rates for the District's 30 newest Class-A buildings and the numbers are a sign trophy space demand has grown and vacancy rates have returned to pre-recession levels. There are some exceptions on the list: 515 N State St continues to struggle from the loss of the American Medical Association as a tenant. The top nine floors of (231k SF) 500 W Monroe are still empty and 525 W Van Buren has seen 25% vacancy rate for four years. Overall vacancy rates in the CBD rose slightly to 13.55%.
