Colliers: Office Market Still Strong

The second quarter was another solid quarter for the national office market, according to Colliers International, a Boston-based commercial real estate manager.Absorption totaled 27.9 million square feet, up from 22.2 million square feet in the first quarter and 26.3 million square feet in the second quarter of 2005, Colliers reported. The national vacancy rate stood at 13.1%, down from 13.3% in the first quarter and 14.6% a year earlier. "The office sector is clearly on a tear, but we may be nearing the top of this cycle, as the economy shows increasing signs of slowing," said Ross Moore, senior vice president and director of research at Colliers. "Any slowdown, however, won't be felt in the office leasing market until 2007." The company can be found online at http://www.colliers.com.