U.S. Office Vacancy Rate Inches Higher In Fourth Quarter: Reis

www.oann.com | 3/23/2017 | Staff
echoleaecholea (Posted by) Level 3
(Reuters) – U.S. office vacancy rate rose to 16.7 percent in the fourth quarter from 16.4 percent a year earlier, according to real estate research firm Reis Inc.

Net absorption, measured in terms of available office space sold in the market during a certain time period, dropped to 7.4 million sq ft of office space in the quarter, compared with 7.6 million sq ft a year earlier.

New - Construction - Office - Spaces - Sq

New construction of office spaces declined to 10.4 million sq ft from 12.0 million sq ft.

Both asking and effective rents rose about 3 percent.

Rent - Growth - Years - Rate - Growth

“Rent growth has been steady throughout the last eight years, but the rate of growth has barely...
(Excerpt) Read more at: www.oann.com
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