U.S. office space rent rises at fastest clip in a decade: report

April 8, 2015 1:06 PM

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U.S. office space rent rises at fastest clip in a decade: report

NEW YORK (Reuters) - Stepped-up business hiring pushed the rental price of U.S. office space up 3.1 percent in the first quarter, the highest quarterly gain in a decade, as demand for commercial real estate accelerated, according to Jones Lang LaSalle Inc (JLL.N).

Though occupancy growth in office space slowed to just over 6 million square feet from about double that pace throughout 2014, development activity and rental growth in particular sped up, JLL said in a report to be released on Wednesday.

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