Office vacancies rise to 9 percent

The first quarter of 2001 saw an increase in metropolitan office vacancies, following an over-the-year decrease during the past three years, according to data from the most recent survey conducted by commercial brokerage and research firm CB Richard Ellis. Metropolitan area vacancies rose to 9.0 percent of the supply total, only 0.4 percent higher than during the first three months of 2000, but a sharp 1.2 percent increase over the level recorded during the final three months of last year. Suburban office vacancy rates in the first quarter of 2001 remained well above the downtown level.