Colliers: Office Market Strong in 4Q

The national office market posted a strong fourth quarter as absorption totaled 25.7 million square feet, up from 19.4 million square feet a year earlier, according to Colliers International, a Boston-based commercial real estate manager.For all of last year, absorption totaled 97.5 million square feet. Office vacancies totaled 13.8% in the fourth quarter, down from 14.1% in the third quarter and 15.5% in the fourth quarter of 2004, Colliers reported. "The latest office market indicators show the pendulum continues to swing away from tenants and toward landlords as we enter 2006," said Ross Moore, vice president and director of market and economic research at Colliers. "Tenants have increasingly fewer choices, and the supply pipeline continues to be largely muted -- foreshadowing a further tightening in the marketplace during the coming quarters." The company can be found online at http://www.colliers.com.