The recovery across the U.S. office sector continued in the first quarter of 2012, but at a substantially slower pace than witnessed in the latter part of 2010 and throughout 2011, according to Jones Lang LaSalle’s First-Quarter 2012 Office Outlook.
“Overall, the first quarter presented a mixed bag of results and expectations for the rest of the year,” said John Sikaitis, Senior Vice President of Research at Jones Lang LaSalle. “While the recovery slowed during the quarter, it remains intact. Looking ahead to the remainder of 2012, markets will continue to recover and, in some cases, contract at different rates of speed. Overall rents across most markets will grow, but at slow and measured paces unless some significant cushion of technology or energy pockets exist.” (press Release)