Vacancy rates remained low in the first quarter of 2018 for the major commercial property sectors. Vacancy rates were unchanged among national office, retail and industrial markets, and ticked down 10 basis points in apartment markets, according to recent data from CoStar.
Market conditions cooled a bit, however, as rent growth decelerated slightly for most property sectors. Industrial properties are outpacing the other sectors with rent growth of 6.0 percent over the past year, only slightly off the pace in 2016 and 2017. Rent growth of office and retail properties decelerated as well, to 1.7 percent and 1.8 percent, respectively. Apartments were the outlier again, with a 20 basis point pickup in rent growth, to 2.6 percent.
Read more...Commercial Vacancy Rates Remain Low, but Rent Growth Slowed in 2018:Q1 | Nareit