1、U.S.Research Report|Q3 2022|Office Market Outlook|1Key Takeaways U.S.office vacancy rose at an increased pace in Q3 2022.Net absorption was positive for the fourth time in the past five quarters.Asking rents are mostly holding firm,but generous concessions remain on offer.Sublease space is at record

2、 levels.Supply-side risks are limited as construction activity continues to decline.Office occupancy is gradually increasing,but the return to the office has slowed.Year-to-date sales volume is in line with 2021 levels.High inflation and rising interest rates could drive the economy into recession.U

3、.S.Research Report|Q3 2022 Office Market OutlookU.S.Office Market Cools in the Third Quarter Stephen Newbold,National Director of Office Research|U.S.Summary StatisticsVacancy Rate15.4%Change from Q1 2022(basis points)30Absorption(MSF)0.5%of Markets With Positive Absorption52%New Supply(MSF)14.5Unde

4、r Construction(MSF)104Asking Rents(Per Square Foot Per Year)Downtown Class A$51.14 Change From Q2 2022-1.4%Change From Q3 20210.6%Suburban Class A$34.06 Change From Q2 2022-0.4%Change From Q3 20211.4%Source:ColliersThe U.S.office market cooled in Q3 2022.Vacancy ticked up,while sublease space hit a

5、new record high.Is a market correction on the horizon?It will likely take another 18 to 24 months for economic and business concerns to play out.Concurrently,occupiers are reviewing their working practices and office space needs.The U.S.office vacancy rate stands at 15.4%,an increase of 30 basis poi

6、nts in the third quarter and 50 basis points year-over-year.However,vacancy is still below the peak of 16.3%,seen at the height of the Global Financial Crisis(GFC).Net absorption,which measures the change in occupied office inventory,was positive in just over half(52%)of the office markets tracked i