Vacancy rates for urban office space dropped.
Average vacancy levels for office buildings in downtown business districts fell to 15% from 19% during the third quarter of 1986, according to a nationwide survey by Cushman & Wakefield, a diversified real estate company and subsidiary of Rockefeller Group. The survey showed the lowest central city vacancy rates were in the Northeast, while the highest rates were recorded mainly in the Sun Belt. Hartford, Conn., led the list with a vacancy rate of only 6%, while Fort Lauderdale, Fla., had the highest rate at 31%. The vacancy rate in Los Angeles was 19%.
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