Office Market Improving?

Jones Lang LaSalle is reporting that the national office market is showing signs of a rebound in demand for office space.  Well, at least it was before the last round of economic news.  Forget what we know about the latest bit of job news that we got today–that the US added NO new jobs in August–this report says that things had been trending in the other direction.  According to the report, nationwide office vacancy dropped from 18.4% down to 18.1%, with most markets showing a decline in available space.  With 11 million square feet of positive absorption in the second quarter, the trend was almost triple the 4.3 million of absorption in the first quarter.  This all pointed to an improving office market which, as a lagging indicator of the economy, meant that businesses were feeling positive about the economy and picking up space to hire additional employees.  The question now is will this trend continue?

Read the full article here: http://www.globest.com/news/1991_1991/chicago/313616-1.html?ET=globest:e27124:483812a:&st=email