Report | United States Office Outlook - Q1 2013
The U.S. office market is beginning to muscle its way through the challenges of heightened uncertainty, wavering demand and an evolving tenant that paralyzed most aspects of the office sector in the second half of 2011 and all of 2012.
The first quarter performance of 2013 provided a view of a transitioning market that appears to be on far-sturdier ground than we saw 12 months ago. Tenants came back into the market in a meaningful way with respect to touring spaces and completing deals, sublease space declined dramatically in the first quarter, occupancy growth outnumbered gains from 12 months ago by more than five-fold and we saw growth in geographies and product types that have been dormant for several years.
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