Let me conclude by giving you our sense of where the economy and the real estate markets are. The economy continues a long but frustratingly slow progress back, whereby a couple of good economic reports we get 0:00:43.7 5 like the March numbers appears. Our sense is that there is a very strong level of uncertainty among business decision makers that prevent major employment moves. This has had the greatest impact on office demand as evidenced by the national office vacancy rates remaining at 16% in the first quarter. Industrial demand is stronger as evidenced by the 20 basis point decline in the national vacancy rate to 13.4% in the first quarter.The net result is that the economic and real estate environments are where we thought they would be for the year, somewhat slightly better than last year. But we feel very good about where Liberty is in this context, on plan for the year with a further strengthening in financial position and with a more valuable and realigned portfolio. And with that let me turn it over to George.
Liberty Property Trust's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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