January-18-12

Year End Economic Figures Just In

Recent Economic Figures Showing Economic Trends:

APARTMENTS: Vacancies down to 5.2% Effective rents up 2.3%

OFFICE: Vacancies ended the year at 17.3%, 30 basis points below the end-2010 level

Statistics on office space areflecting slow improvement across the nation. Rent growth was also positive every single quarter, with asking rents increasing by a modest 1.6%. The sector absorbed 5.3 million square feet, the fifth consecutive quarterly gain in occupied stock, the office sector has assuredly turned the corner and begun the process of recovery. Net absorption sums up to 20.7 million square feet for the year, a clear reversal from 2010's loss of 16.7 million square feet.

RETAIL: Vacancy rates stuck at 11%.

 

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