Worcester Business Journal

October 30, 2023-Fact Book

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24 Worcester Business Journal | October 30, 2023 | wbjournal.com Admission: $10 per person, $40 family cap Kids under 5 free HARVEST HOME FESTIVAL & 5K Presented by Clinical Financial Resource NOVEMBER 5 NOVEMBER 5 NOVEMBER 5 | | | 11 AM - 3PM 11 AM - 3PM 11 AM - 3PM 37 WHEELER RD, NORTH GRAFTON COMMUNITY-HARVEST.ORG/EVENTS Join us for a fundraiser and celebration to mark the end of another season of volunteer farming for hunger relief. Featuring food and drink, beer, online auction, kids activities, apple cannons, hayrides, animal adoption event, live music, and more! F A C T B O O K W O R C E S T E R : J U S T T H E F A C T S Square feet (SF) supply 1,988,183 1,988,183 1,988,183 1,988,183 Direct SF available 322,634 388,251 387,048 387,048 Sublease SF available 119,466 119,466 119,466 119,466 Vacancy rate 22.2% 25.5% 25.5% 25.5% Current net absorption 15,475 -65,617 1,203 0 YTD net absorption 15,475 -50,142 -48,939 -48,939 Worcester office and R&D space in 2022 Source: Colliers Boston Market Reports (2022) First Second Third Fourth quarter quarter quarter quarter 0 5% 10% 15% 20% 25% 30% Q1 Q2 Q3 Q4 2014 Q1 Q2 Q3 Q4 2015 Q1 Q2 Q3 Q4 2016 Q1 Q2 Q3 Q4 2017 Q1 Q2 Q3 Q4 2018 Q1 Q2 Q3 Q4 2019 Q1 Q2 Q3 Q4 2020 Q1 Q2 Q3 Q4 2021 Q1 Q2 Q3 Q4 2022 Q1 Q2 '23 OFFICE VACANCY RATE Worcester office space vacancy rate Source: Colliers Boston Market Reports (2022)

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