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After a slow start to the year, the U.S. office market rebounded during the second quarter on the back of sustained tenant demand, consistent economic fundamentals and a raft of a new supply coming to the market. Net absorption over the quarter totaled 8.8 million sq. ft., bringing year-to-date occupancy growth to 9.9 million sq. ft., healthy but below the previous levels of growth 11.7 million square ft. of completions, coupled with relocations and give-backs representing rightsizing from traditional users, helped to push vacancy up by a 10 basis points to 14.8 percent, marking the third consecutive quarter of vacancy increase.
Keywords: JLL, United States, Market Conditions, Q2 2017
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