Report | United States Office Review - Q2 2014
The U.S. office recovery is moving through 2014 at a greater speed and affecting more geographies. On the demand side, leasing activity jumped 6.2 percent over the quarter with nearly half of markets we track reporting increased touring velocity headed into the usual summer slowdown. Further, large tenant activity returned to the market, helping fuel net absorption of 13.9 million square feet, which was up 63 percent from 12 months ago, helping set a recovery high. This heightened demand environment has created a landlord confident marketplace dictated by rising rents, falling concessions and even the start of a new and broader development cycle.
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