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U.S. Office Vacancy Rate Falls to Almost Three-Year Low

U.S. office vacancies dropped to their lowest level in almost three years as demand from energy and technology companies combined with a dearth of construction to overshadow cuts by government employers, Reis Inc. said.

A total of 17.1 percent of the country’s office space sat empty as of Sept. 30, down from 17.4 percent a year earlier and 17.2 percent in the second quarter, the New York-based real estate research firm said today. Vacancies were the lowest since the fourth quarter of 2009, when the rate was 17 percent.