With a vacancy rate of about 4.5 percent and businesses and tenants still adjusting to post-COVID workspace needs and uncertain economic conditions, Salem-area experts are cautiously optimistic about the city’s commercial office market.
Curt Arthur, a Capacity Commercial Group principal, said at the company’s annual economic forum on Feb. 12 that the decreasing vacancy rate was a positive sign, and the quickly submitted offers on new space indicate strong demand.
“Last year, I mentioned it was a little bit of a lackluster year,” he said. “I would say it’s a little bit of the same, but we see light at the end of the tunnel.”…