The office vacancy rate in the Birmingham market area decreased to 10.9% at the end of the first quarter 2011. The vacancy rate was 11.1% at the end of the fourth quarter 2010, 11.1% at the end of the third quarter 2010, and 11.0% at the end of the second quarter 2010.
Class A projects reported a vacancy rate of 10.0% at the end of the first quarter 2011, 10.5% at the end of the fourth quarter 2010, 11.1% at the end of the third quarter 2010, and 10.9% at the end of the second quarter 2010.
Class B projects reported a vacancy rate of 10.8% at the end of the first quarter 2011, 11.2% at the end of the fourth quarter 2010, 11.1% at the end of the third quarter 2010, and 11.2% at the end of the second quarter 2010.
Class C projects reported a vacancy rate of 11.6% at the end of the first quarter 2011, 11.3% at the end of fourth quarter 2010, 11.1% at the end of the third quarter 2010, and 11.0% at the end of the second quarter 2010.
The overall vacancy rate in Birmingham’s central business district at the end of the first quarter 2011 decreased to 15.5%. The vacancy rate was 16.4% at the end of the fourth quarter 2010, 16.0% at the end of the third quarter 2010, and 16.1% at the end of the second quarter 2010.
The vacancy rate in the suburban markets changed to 9.8% in the first quarter 2011. The vacancy rate was 9.8% at the end of the fourth quarter 2010, 10.0% at the end of the third quarter 2010, and 9.8% at the end of the second quarter 2010.
The information in this news report is based on information that appears in CoStar’s First Quarter 2011 Office Market Report available to CoStar subscribers. To learn more about quarterly Office Market Reports and other benefits available to CoStar subscribers, please call 1-877-694-2177.