The U.S. office vacancy rate hit its lowest level in more than 2 years at year-end 2004. A market update report provided by Bob Bach, national director, market analysis, Northbrook, IL-based Grubb & Ellis Co., says the rate dropped a hefty 50 basis points in the fourth quarter to end the year at 16.7 percent.
During 2004, the vacancy rate fell by just short of 100 basis points, helping to stabilize rents for both Class-A and Class-B properties, according to Bach's report. Bach says the market is unlikely to reach equilibrium, defined as a vacancy rate of 10 to 12 percent, for 2 or 3 more years. This suggests that the rate of recovery will be gradual and uneven among markets, submarkets, and specific properties.
Painted Cool Metal Roofing Stays "Young" in Aged Reflectance Study
A comprehensive study on the aged reflectance values for painted metal roofing and other roofing materials - completed by Oak Ridge, TN-based Oak Ridge National Laboratory and the Pittsburgh-based Cool Metal Roofing Coalition - shows that solar reflectance and thermal emittance values degrade minimally over time with painted metal roofing.Coupling metal roofing's aged reflectance performance with its recycled content, durability for long service life, and recyclability, the results of this study demonstrate that the energy and sustainable advantages of metal roofing are more convincing than ever.
The full study can be viewed at (http://www.coolmetalroofing.org/).
Set a reminder, start packing, and get going! The upcoming months are filled with excellent industry events. This is your opportunity; don't miss out! To find out more about these and other upcoming events, visit (www.buildings.com/liveevents).
DateEvent and Location13th Annual South Florida Buildings & Facilities Maintenance Show4/6/2005 Ft. Lauderdale, FLNFPA Disaster/Emergency Management Seminar4/11/2005 Nashville, TN
4/18/2005 Atlantic City, NJLightfair Intl.4/12/2005 New York CityTheory & Practice of Energy Efficiency & Green Buildings4/13/2005 Las VegasIREM Leadership and Legislative Summit4/16/2005 Washington, D.C.EnvironDesign®4/20/2005 New York CityAbandoned Cabling Seminar4/22/2005 Houston