Commercial vacancies hit record high of 14.4%

Vacancy rates went up in 14 out of 26 counties, according to data management company GeoDirectory

Of the just under 211,000 commercial properties across the country, 180,515 are currently occupied. 

The national vacancy rate for commercial buildings ticked up slightly during the second quarter to 14.4%, according to data management company GeoDirectory, which is the highest rate it has ever recorded.

According to the company’s latest commercial vacancy rates report, as of the end of June, 30,246 commercial properties were classified as vacant — a 0.3% increase on the same time last year — with vacancy rates increasing in 14 out of 26 counties.