According to a recent market update by Bob Bach, national director, market analysis, at Northbrook, IL-based Grubb & Ellis Co., the
U.S. office market advanced further into the recovery cycle during the first quarter. According to Bach, “Absorption beat completions by a wide margin for the fourth consecutive quarter, driving the vacancy rate lower by 50 basis points to end the quarter at 16.3 percent.�With robust investor demand, this continued leasing market recovery signals the beneficial impact of the Goldilocks economy on real estate. “Growth is strong enough to propel the leasing market forward, but not strong enough to cause a spike in interest rates that could derail the investment market,� says Bach.This information was provided by Northbrook, IL-based Grubb & Ellis Co. For more information, visit (www.grubb-ellis.com) or contact the company by calling (800) 877-9066.
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