OFFICE MARKET SLOW TO REBOUND – During the last half of 2013, absorption was positive (+-0.5%) and office vacancies decreased from 19.6% to 18.8%. Over the past twelve months, average urban vacancies dropped from 18.6% to 17.9%, while those in the suburbs fell from 22.2% to 19.4%. Medical office space continues to strengthen, with vacancies averaging 6.4%, down from 7.5% charted a year ago. Find out about the office, retail, and industrial outlook for the Grand Rapids area.