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OFFICE VACANCY CONTINUED DECLINE IN MAJOR MARKETS IN Q3 2013

OFFICE VACANCY CONTINUED DECLINE IN MAJOR MARKETS IN Q3 2013

Los Angeles – September 26, 2013 – (RealEstateRama) — Office vacancy rates continued to decline in most major U.S. markets during Q3 2013, based on preliminary data from CBRE Group, Inc. Eight of the 13 largest markets showed lower office vacancy, led by Dallas, which experienced a 100 basis points (bps) decline to 18.1%. The U.S. industrial market also continued to show improvement in Q3 2013 according to CBRE, with demand coming from third party logistic companies, the food service sector, home construction, automotive and automotive suppliers. Miami maintained its 3rd place position among the top U.S. industrial markets, with a 8.1% vacancy in Q3 2013, down 10 bps from Q2 2013.