Are you concerned about the long-term effects of rising vacancy rates for downtown office space in Providence?

PBN Staff

02/04/2022

THE DOWNTOWN PROVIDENCE office market continues to suffer an increasing vacancy rate since the start of the COVID-19 pandemic, reaching 15.85% for the fourth quarter of 2021, according to latest market figures provided by CBRE Inc. / PBN FILE PHOTO/CHRIS BERGNEHEIM — THE DOWNTOWN PROVIDENCE office vacancy rate was 15.85% for the fourth quarter of 2021, according to CBRE Inc. That's the highest vacancy rate since 2015. / PBN FILE PHOTO/CHRIS BERGNEHEIM

CBRE Inc. says the vacancy rate for downtown office space in Providence was 15.85% for the fourth quarter of 2021. That’s the highest rate of vacancy for office properties downtown since year-end 2015. The downtown Providence office market had a 12.2% vacancy rate in the fourth quarter of 2019, CBRE data shows. That was just before…