REAL ESTATE

Office Vacancy Rate Falls: The figure for U.S. office buildings was the lowest since 1985 in the second quarter, as suburban office markets showed stronger leasing activity than downtown areas. Nationally, the amount of vacant office space stood at 16.3% at the end of the second quarter, down from 18% a year ago and a high of 19% in 1992, according to commercial real estate firm CB Commercial. The improvement in vacancy rates was led mainly by office properties in suburban markets, as technological advances allow tenants to flee urban areas. The study, which covers 50 markets across the country, found that the vacancy rate for suburban office properties fell about 2.5 percentage points to 16.1%, the lowest level in at least 10 years.