Downtown Occupancy Steady in 2011

Full and original article posted on Worcester Business Journal

An annual report from the Worcester Regional Research Bureau found that the occupancy rate for office space in downtown Worcester is 79 percent, a statistically insignificant change from last year’s 81 percent, but lower than in 2006, when it stood at 89 percent.

The bureau said the recession and the lack of investment in downtown buildings continues to represent a drag on the area. But it also cited a number of major projects now underway that could reverse the trend. Among the largest are the Unum office space and Saint Vincent Hospital cancer center being built at the CitySquare site, the Massachusetts College of Pharmacy and Health Sciences’ new optometry school building and the new Gateway Park II research complex.

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