MacRo LTD Blog

US Office Market Posts Strong Third Quarter Absorption

The following excerpts are from a CoStar Group news article by Randyl Drummer.

Frederick Commercial Real EstateAccording 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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