Warning: My office building's vacancy rate just hit 12% and I didn't see it coming

I was reviewing the quarterly report for our property in Tempe and the number jumped out at me. We had a solid 95% occupancy for years, but two midsize tech tenants left last month and we only filled one spot. It matters because our loan terms get reviewed if we drop below 90%, and now I'm scrambling. Has anyone else in a suburban office market had a sudden dip like this?

2 comments

2 Comments

grant.margaret9d ago

Nah, that's been brewing for a while.

avery_fox938d ago

Remember how my friend's plant died after months of weird yellow leaves?