Metro’s office Vacancy Rate Continues Its Upward Climb

If the office market is a reflection of the Albuquerque metro area’s service-oriented economy, then things are looking rather wan and pale.
The vacancy rate has been stuck at 18 percent or higher for three years running with no end in sight. After a three-year slide, the average asking lease rate appears to have bottomed out at the level of mid-2007. Office construction is at a standstill. Read more…