Annapolis office vacancies shot up in the third quarter, as tenants shopped for the best deal and landlords continued to offer incentives in attempts to fill their space.
Paul W. Gillespie — The Capital
Todd Eckert, a leasing associate with Coldwell Banker Commercial, talks about how landlords are becoming more flexible in the midst of rising vacancy rates as tenants grow more aggressive in shopping around for a good price.
Todd Eckert, a leasing associate with Coldwell Banker Commercial, talks about how landlords are becoming more flexible in the midst of rising vacancy rates as tenants grow more aggressive in shopping around for a good price.
Vacancy rates rose to 15 percent in the third quarter, compared with 7.57 percent a year ago and 6.62 percent in 2007, according to reports from MacKenzie Commercial Real Estate Services.
It's the most recent evidence of a commercial real estate market that has softened throughout the year.
Local vacancy rates hit 12.52 percent during the first quarter, the highest point in six years. The rates rose again to 12.82 percent in the second...
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