Q2 2022 West Midtown Office Submarket Report

West Midtown saw positive absorption of 162,311 square feet in Q2 of 2022, the sixth-consecutive positive absorption quarter for the growing submarket. Most of the Q2 gains were thanks to tenants moving into recently build Class A product: Ford Motor Company took 15,417 sf at 8West, Outreach Corporation occupied 32,927 sf at Star Metals, and MacDermid Graphic Solutions and The 3rd Spot moved into 45,000 and 26,000 sf respectively at The Works. This saw the submarket’s vacancy rate fall 260 basis points (2.6%) from 24.1% to 21.5%. The Class A vacancy is still at an unnaturally high mark of 33.3% thanks to multiple spec deliveries over the past year.

Published: Aug 08 | 2022 Download