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U.S: Demand for office space still sluggish

Posted on 08 January 2013

U.S. businesses took on new office space at a sluggish pace in the fourth quarter, as employers remained cautious about adding jobs. The amount of occupied office space grew by 3.7 million square feet in the quarter, nudging down the vacancy rate 0.1 percentage point to end the year at 17.1%, according to real-estate research firm Reis Inc.
Asking rents rose to an average $28.46 per square foot, up 0.8% for the quarter and 1.8% for the year, said Reis, which surveys 79 metropolitan areas………………………………………..Full Article: Source


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