1330 Broadway, Oakland Ca.
The NAR is calling for Q1 2011 office vacancies to peak at 17.6%, before easing later in the year. The forecast also calls for negative net absorbtion of office space to peak in 2010 at 24.6 million square feet, before generating a positive 25.5 million square feet of absorbtion in 2011.
As far back as the middle of 2009, the general consensus from the brokers I'd spoken with was that 2010 was going to be a "lost year", and that things were not going to pick up until 2011. Looks like that forecast is right on target...
