• CBRE Econometric Advisors projects positive net absorption and continued rent growth for the North American suburban office market through 2018. Submarkets with high-quality amenities and efficient buildings capable of handling denser employee layouts will likely perform the best.
  • Due to improving tenant demand and low overall levels of new supply, the U.S. suburban office vacancy rate has not increased for 27 straight quarters. The vacancy rate was 14.1% in Q4 2016, just 20 basis points (bps) above the prerecession low in Q2 2007.
  • Many previously lagging suburban markets posted vacancy rate decreases of 200 bps or more in 2016, underscoring the geographic breadth of the suburban recovery.
  • The Canadian suburban office market recorded positive absorption and only a slight uptick in vacancy in 2016.