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Report: US Office Markets Improving

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According to CB Richard Ellis' December 2010 Global Market View the 4th Quarter saw that the global markets are improving, but have quite a way to go before they become healthy.

From the report: "American office markets continue to lag those of Europe and Asia Pacific, but in Washington, D.C., net absorption reached 3.9 million sq. ft. year to date, the first time demand has outpaced supply in multi-tenant buildings in the region since 2007. Vacancy declined almost 200 basis points during the past six months in Washington, D.C., to 10.3%, which is the largest decline of any U.S. office market. Asking rents increased by 1.8% during the quarter and are expected to remain at current levels or increase slightly during the next six to 12 months in the city."

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