Industrial, Office, and Retail Vacancy Rates
Vacancy rates in the industrial, office, and retail spaces have continued to decline.
In real estate, a vacancy is referred to a space in existing buildings that is vacant and immediately available during the quarter for direct lease, for sublease or for sale, plus space that is vacant but not available for direct lease or sublease. In a sense, the vacancy rates measure how competitive a market is. The lower the vacancy rate, the more competitive the market is.