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National Market Reports

National Office Market

3Q18 National Market Reports

U.S. office market indicators were mixed during the first quarter of 2019. Absorption was positive but decelerated compared with the nation's performance over recent quarters. Asking rents rose 3.2% compared with the first quarter of 2018, while vacancy declined 30 basis points over the past 12 months. Approximately 6.8 million square feet of new product delivered during the first quarter. The construction pipeline has reached its highest level of the cycle and is an indicator to watch in 2019. However, overall market conditions suggest the cyclical expansion will continue at least through the end of this year.

Average Asking Rent (Price/SF)                 $28.69
Vacancy Rate (%)                   13.0%
Net Absorption (SF)            6,175,468

National Industrial Market

National Industrial Market

The U.S. industrial market maintained strong fundamentals in early 2019, with steadily rising asking rents and historically low vacancy during the first quarter of the year. Industrial space under construction reached a new cyclical high, as developers seek to capitalize on the consistency and strong returns of the industrial asset class.

Average Asking Rent (Price/SF)                $7.24
Vacancy Rate (%)                 5.0%
Net Absorption (SF)     36,673,963

National Office Market Report
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National Industrial Market Report
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