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OFFICE PACE

Journal of Business, 2024-02, Vol.39 (4), p.A1-A21

Copyright Northwest Business Press Inc. Feb 15, 2024 ;ISSN: 1075-6124

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  • Title:
    OFFICE PACE
  • Author: Bullock, Erica
  • Subjects: Buildings ; Central business districts ; Commercial real estate ; Construction ; Leasing ; Office space ; Tenants ; Vacancies
  • Is Part Of: Journal of Business, 2024-02, Vol.39 (4), p.A1-A21
  • Description: Class A vacancies increase in the Central Business District as activity trends shift The downtown Spokane office market is adjusting to waning lease activity in the last five years, attributed to security concerns, parking expenses, and a hybrid workforce model, market experts here say. Downtown Spokane office vacancy rates are nearing new highs, says Craig Soehren, real estate broker at Spokane-based Kiemle & Hagood Co. Class A office vacancy rates are approaching 20% in the Central Business District, says Soehren. In Q4 2019, the Central Business District had 141,500 square of vacant Class A office space, compared to 205,800 square feet of vacant space in Q4 2022, according data from the research committee's report.
  • Publisher: Spokane: Northwest Business Press Inc
  • Language: English
  • Identifier: ISSN: 1075-6124
  • Source: ProQuest Central
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