"The U.S. is in a better economic position than most other developed countries, but for the office sector to return to historical growth norms like we saw in 2011, the private sector needs the confidence to reinvest the cash they have been sitting on, to fuel future growth," said Ben Breslau, Director of JLL's Americas Research."Suburban geographies from Boston to Chicago, New Jersey, Phoenix and Detroit have a long way back, not just to 2007 levels, but even 2001 levels, as most of these markets never fully recovered from the recession 10 years ago," Sikaitis said. "Some markets and submarkets will need to make major adjustments or even re-invent themselves to avoid becoming obsolete."
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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