Office leasing for Class-A properties improves

Office space leasing for Class-A buildings has improved.

With the office market improving throughout the country, many property management companies may have experienced an improvement in leasing, as more organizations have looked toward Class-A office space, according to National Real Estate Investor.

The national unemployment rate has not yet fallen below 8 percent, which may have stunted substantial growth, but with continued improvements in the job market expected, the market could continue on a slow and steady recovery track. However, industry experts are cautious, despite the positive signs.

"Everybody is pretty nervous right now about what’s going on in Europe and companies are reluctant to take on expansion space," Robert Bach, senior vice president and chief economist with brokerage firm Grubb & Ellis, told the news source. "Vacancies are declining; rents are flat for the most part, but increasingly modestly in the best buildings in a few markets."

The cities that are expected to continue improving at a faster pace than the rest of the country are major metropolitan areas such as Boston, New York, Seattle and San Francisco, the news source added. It is expected non-major markets will struggle to put up the same figures as these major cities, as of now.

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