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Business
Commercial vacancy rates increasingPublished 11/06/07
Annapolis vacancy rates edged up this year as more office space came on line but landlords continued to demand more than $30 per square foot. 
Paul W. Gillespie - The Capital
Annapolis developer Joe Conte and his niece and property manager Jennifer Conte stand outside a new Class A office building on Lubrano Drive.
Vacancies jumped to 8.87 percent in the second quarter of this year, compared to 5.26 percent in the second quarter of 2006, according to reports by MacKenzie Commercial Real Estate Services. Vacancy rates rose to 6.62 percent in the third quarter of this year, from 5.29 percent in the third quarter of 2006.
"The increase is due primarily to the delivery of Park Place," MacKenzie vice president Chris Bennett said, referring to the $250 million development on inner West Street. Meanwhile,...
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