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Reports from major commercial real estate firms found lower year-over-year office vacancy in the third quarter, while new construction fell to its lowest level in decades. Demand continued to favor higher-quality buildings, according to Connect CRE.
HOW THIS BRIEF WAS MADE 1 outlet: 1 trade press. Automated sourcing and summaries by the BLUF engine. Corrections
The trends affect office landlords, tenants, developers and investors, but the article provides no national vacancy rate or estimate of financial effects. Limited new construction may constrain future supply, though the article does not quantify that impact.