U.S. Office Vacancy Lowest in 18 Years, Despite Lots of New Construction
The U.S office market continued to experience accelerated growth in the second quarter, with 17.1 million sq. ft. absorbed, bringing the year-to-date total to 66.5 million sq. ft. Vacancy dropped to 12.2 percent nationally—the lowest level in 18 years, according to a second quarter office report from real estate services firm CBRE.
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