Someone correct me if I'm wrong, but if you take newly rented space and subtract the space whose tenants quit or let the lease expire without renewal, what you have left is the
net absorption.
Office Markets Q1 Sq Ft Net Absorption 2026
1,995,238----Manhattan
1,396,953----San Francisco
521,754------Kansas City
509,271------Atlanta
501,391------Dallas
482,445------Charlotte
473,642------Phoenix
436,479------Silicon Valley
424,900------Boston
372,887------Northern Virginia
283,021------Pittsburgh
281,942------Columbus
281,465------Salt Lake County
276,048------San Diego
271,203------Orange County
241,076------Birmingham
189,411------Orlando
102,305------St Louis
99,846-------San Francisco Peninsula
98,107-------Central New Jersey
96,877-------Miami
89,567-------Hartford
83,560-------Milwaukee
73,778-------Cleveland
67,289-------Minneapolis-St Paul
61,015-------Nashville
54,451-------Raleigh-Durham
47,928-------Cincinnati
38,856-------Des Moines
37,390-------Northern New Jersey
36,165-------Tampa Bay
25,567-------Indianapolis
14,946-------Denver
13,933-------Suburban Maryland(DC)
-289---------Boise
-3,255-------Sacramento
-5,395-------Huntsville
-30,831------Philadelphia
-32,936------Jacksonville
-40,897------East Bay
-50,225------Las Vegas
-74,366------Ft Worth
-78,900------Omaha
-82,403------Long Island
-86,433------Northern NY Suburbs
-93,931------Palm Beach
-129,969-----Baltimore
-147,642-----Richmond
-166,129-----Austin
-226,815-----Memphis
-234,916-----Ft Lauderdale
-274,060-----Los Angeles
-309,786-----Houston
-429,605-----Washington DC
-489,405-----Seattle
-692,771-----Chicago
-697,293-----Detroit
Q1 2026 Vacancy Rate(Price Per Sq Ft)
28.7%--San Francisco($68.35)
27.7%--Houston($31.12)
26.6%--Portland($29.78)
26.4%--Seattle($44.68)
25.5%--Chicago($37.91)
25.3%--Los Angeles($48.60)
24.7%--St Louis($24.7%)
23.8%--Atlanta($33.05)
23.7%--Boston($45.16)
22.4%--Austin($46.16)
21.3%--Sacramento($25.75)
21.3%--Salt Lake County($27.46)
21.2%--East Bay($40.03)
21.2%--Indianapolis($22.50)
21.1%--Dallas-Ft Worth($33.13)
20.9%--Washington, DC($55.84)
20.6%--Northern Virginia($36.24)
20.2%--Minneapolis-St Paul($32.22)
19.8%--Central New Jersey($28.91)
19.8%--Denver($33.34)
19.6%--Northern New Jersey($31.75)
19.4%--Jacksonville($23.08)
19.3%--Northern NY Suburbs($31.23)
19.2%--Philadelphia($30.31)
19.2%--Suburban Maryland(DC)($44.76)
18.9%--San Francisco Peninsula($73.65)
18.2%--Nashville($36.22)
17.8%--Tampa($32.81)
17.7%--Cleveland($18.40)
17.6%--Orange County($35.65)
17.6%--Phoenix($30.51)
17.0%--Raleigh-Durham($31.87)
16.6%--Charlotte($35.35)
16.4%--Columbus($22.28)
16.1%--Des Moines($21.95)
16.0%--Cincinnati($20.47)
15.6%--Orlando($28.62)
15.6%--Richmond($22.35)
14.8%--Silicon Valley($64.93)
14.5%--Memphis($20.37)
14.4%--Kansas City($21.78)
13.9%--San Diego($36.76)
13.7%--Baltimore($22.92)
13.3%--Hartford($21.66)
13.2%--Ft Lauderdale($41.37)
12.5%--Pittsburgh($24.37)
12.0%--Detroit($21.35)
11.9%--Las Vegas($31.28)
10.6%--Huntsville($22.22)
10.6%--Miami($62.84)
10.3%--Manhattan($77.53)
10.2%--Birmingham($24.02)
9.5%---Palm Beach($52.61)
8.8%---Omaha($26.49)
8.2%---Long Island($29.85)
6.7%---Boise($21.87)
https://www.colliers.com/en/research/nre...ay%20and%20innovation%2Ddriven%20markets.