The Greensboro / Winston-Salem Office market ended the first quarter 2012 with a vacancy rate of 11.4%.
The vacancy rate was virtually unchanged over the previous quarter, with net absorption totaling positive 52,827 square feet in the first quarter. Vacant sublease space increased in the quarter, ending the quarter at 107,757 square feet.
Tenants moving into large blocks of space in 2012 include: Clinical Trials Of America Inc moving into 4,900 square feet at 210 Charlois Blvd.
Rental rates ended the first quarter at $13.79, an increase over the previous quarter.
A total of four buildings delivered to the market in the quarter totaling 69,563 square feet, with 242,000 square feet still under construction at the end of the quarter.
This trend is compared to the U.S. national office vacancy rate, which decreased to 12.2% from the previous quarter, with net absorption positive 14.79 million square feet in the first quarter.
The information in this news report is based on CoStar’s First Quarter 2012 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.