Phoenix among only large markets with office asking rates below national average

Most Western U.S. markets had vacancy rates above the national average of 18.7% in August, according to this month’s Office Report from CommercialCafe. For instance, last month, Seattle saw the highest vacancy rate in the region with a little more than 27% of space unoccupied, while San Francisco was second in the region with vacancy here reaching nearly 26% in August. Meanwhile, Phoenix remains one of the only large markets where office asking rates fall below the national average.

Key highlights:

The northern California market topped the regional list for listing rates , with office space in San Francisco asking a little more than $64 per square foot in August — nearly double the national average of $32.63.

Denver ; Phoenix ; and Portland, Ore. , remained the only lar