The following excerpts are from a CoStar Group news article by Randyl Drummer.
According to CoStar Group’s Third-Quarter 2011 Office Review & Outlook, the U.S. office market “absorbed a strong 19 million square feet in the third quarter”.
This activity helped the national office vacancy rate to drop 0.5% since last year’s peak, putting vacancies at 13.1%. Because the demand for office space is increasing, while supply is not, rent costs may go up.
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