U.S. office vacancy rate falls to 16.6 pct in first quarter

April 1, 2015 3:30 AM

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March 31 (Reuters) - The U.S. office vacancy rate fell to 16.6 percent in the first quarter from 16.7 in the fourth, the lowest since the third quarter of 2009, research firm Reis Inc said.

"The labor market has gotten off to a solid start in January and February and it continues to strengthen... We continue to expect that the national vacancy rate will fall by roughly 50 basis points in 2015...," Ryan Severino, the firm's senior economist, said in a statement on Tuesday.

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