The national vacancy rate declined to 17 percent at the end of 2012 from 17.6 percent 12 months earlier, as the country experienced its 11 th consecutive quarter of occupancy growth and its eighth straight quarter of average rental rate increases. Of the 44 U.S. office markets JLL tracks, 84.1 percent experienced occupancy growth during 2012.Despite the slight tightening of overall occupancy levels; however, the pace of the office recovery declined 19.4 percent in 2012 compared to the vibrant market experienced in 2011. California and Texas alone accounted for 60.3 percent of the country's total net absorption, Sikaitis noted.
JLL Reports U.S. Office Market Makes Mild Gains In Absorption And Rent In 2012, With Stage Set For Broader Recovery In 2013
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