U.S. Office Vacancies Decline to 14.5%

Office vacancies in U.S. cities fell to the lowest rate in two years, Cushman & Wakefield said.

The fourth-quarter vacancy rate for central business districts in the U.S. declined to 14.5% from 14.8% in the previous three months, and 15.2% a year earlier, the New York-based real estate services provider said.

The rate was the lowest since the third quarter of 2002, when it was 14.4%.