U.S. Office Market Adds 2.5 Million Square Feet
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U.S. office landlords had the first net increase in occupied space in three years in the fourth quarter, a sign the market is beginning to recover, said Reis Inc., a New York-based property-research firm.
Office buildings added 2.5 million square feet (232,000 square meters) of occupied space in the fourth quarter, compared with a loss of 14 million square feet a year earlier, Reis said in its report. It was the first rise in net absorption since the fourth quarter of 2007.