Jump in US Q4 office occupancy at 7-year high

Los Angeles

OFFICE landlords in the US ended last year with the biggest gain in occupancies since 2007, signalling a pick-up in momentum for the sluggish recovery since the last recession. Occupied office space increased by a net 10.97 million square feet (one million square metres) during the last three months of the year, the most since the third quarter of 2007, according to property research firm Reis Inc.

The measure, known as net absorption, jumped 28 per cent in 2014 to 32.5 million sq ft, also a seven-year high.