US DATA: Grubb and Ellis’s Q4 Office Mkt Real Est Outlook finds U.S.
office vacancy rate fell by 10 bps to 17.7% vs “equilibrium level of 12
to 14 percent where landlords and tenants negotiate.”
Absorption crept higher to 7.1 million square feet, the best quarterly
performance in three years. Projects left in the construction pipeline
totaled 19.5 million square feet.