MB Real Estate has released the September 2011 Market Beat: MBRE Index Update. The MB Real Estate (MBRE) Index is comprised of the last 30 Class A office buildings greater than 300,000 square feet built in Chicago’s Central Business District (CBD). This set of buildings, which contains some of the CBD’s most desirable space, serves as a leading indicator of office market conditions.
For the first time in six quarters, the direct vacancy rate in the CBD’s newest buildings increased. Conversely, the overall market saw vacancies decrease.
Read the full report and find out what this means for our outlook of the overall market.