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Office sector shows signs of improvement as vacancies drop

  • July 03, 2012

Office Sector shows signs of improvement as vacancies drop

Finally recovering from its recession-era lows, the U.S. office sector is showing signs of improvement as vacancies decrease, according to a study by Cassidy Turley.

"The office sector is simply mirroring the slow trajectory of the economic recovery," said Kevin Thorpe, chief economist at Cassidy Turley. "It's far from robust, but given the pullback from the construction industry, even minimal demand is enough to drive vacancy down."

More than anything, increasing office occupancy is a sign of a healthy jobs sector. In many regions across the country, improving economies have directly translated into fewer office vacancies.

In Kansas City, for example, positive employment figures have contributed to office leases.

"Employment is what drives our business here in Kansas City," Michael Mayer, managing principal of Cassidy Turley's Kansas City office, told REJournals. "It should be a good year not only for people looking for jobs, but for landlords, too. As businesses ramp up, they'll need more space."

For expanding companies, adding offices or relocating to a place with more space can be a good way to expand and increase market share. Whether adding offices in the same building or moving out of state, professional relocation movers can help make the process of occupying new office space simple.

 

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