Office Vacancy Rate in the US Worsens to Record 22.6% in Q1 amid Federal Government Lease Terminations

Office Vacancy Rate in the US Worsens to Record 22.6% in Q1 amid Federal Government Lease Terminations

But it may take a while before these federal lease terminations work their way into CRE delinquency rates.

‘Office property is deteriorating,’ West Bancorporation official says

An official at West Bancorporation Inc. this week raised concerns about the office market, joining others who have noted the increased weakening in the sector. “Office property is deteriorating,” Harlee Olafson, the bank’s chief risk officer and executive vice president, said during Thursday’ first-quarter earnings call. “There is significant office property that is vacant or…