Office Vacancy Rate in the US Worsens to Record 22.6% in Q1 amid Federal Government Lease Terminations

Vacant office space in the US grew by an additional 8.06 million square feet (s.f.) in Q1, the 18th quarter of negative net absorption over the past 20 quarters, increasing the amount of vacant office space to a monstrous 1.1 billion s.f. This pushed the vacancy rate to a record 22.6%...