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Increases in U.S. Office Rents Led by San Jose and Dallas

San Jose, California, and Dallas led the U.S. in office-rent increases in the third quarter as cities benefiting from growth in the technology and energy industries outperformed the gradual national recovery.

Rents after any landlord discounts, known as effective rents, climbed 6.7 percent from a year earlier in San Jose, compared with the U.S. average increase of 2.6 percent, property researcher Reis Inc. said. Dallas rents rose 5.2 percent, followed by San Francisco’s 5.1 percent gain, Houston’s 4.4 percent increase and New York’s 3.9 percent advance.