San Jose and Dallas see biggest rise in US office rents in Q3

[SEATTLE] San Jose, in California, and Dallas led the US in office-rent increases in the third quarter as US cities benefiting from growth in the technology and energy industries outperformed the gradual national recovery.

Rents after any landlord discounts, known as effective rents, climbed 6.7 per cent from a year earlier in San Jose, compared with the US average increase of 2.6 per cent, property researcher Reis Inc said.

Dallas rents rose 5.2 per cent, followed by San Francisco's 5.1 per cent gain, Houston's 4.4 per cent increase and New York's 3.9 per cent advance.