From the Business Review:
Building owners are generally having more success filling office space, and their tenants are paying slightly more per square foot, according to a survey by CBRE-Albany.
The average office vacancy rate in the five-county region surrounding Albany, New York, was 12.7 percent in the first half of this year, compared to 13.5 percent in the second half of 2014, according to the CBRE-Albany, the largest commercial real estate broker in the area.
Asking lease rates varied from $16.77 per square foot in downtown Albany to $18.16 for Class A suburban space. The overall average for the region is $16.50, a 31 cent increase over the second half of 2014.
Read the rest here: CBRE-Albany reports decline in office vacancy rate in Albany, New York, area – Albany Business Review.
