Madison Office MarketView H2 2019

18 mar. 2020

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• The vacancy rate held steady in the second half of 2019 at 6.7%. The availability rate dropped 20 bps to 7.2%.
• Average asking lease rates took a step back $0.41 per-sq.-ft. gross from H1 2019 to H2 2019, but have increased $0.83 per-sq.-ft. since the beginning of 2015.
• Spectrum Brands’ 252,122-sq.-ft. headquarters at 3001 Deming Way was purchased by Harbor Group International for $52.1 million in October.
• There are just over 550,000 sq. ft. of new office projects under construction, led by the 138,000-sq.-ft. Innovation One building in Madison.