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The return of the speculative office development

US developers are completing projects in smaller markets without tenant commitments, as demand for lower-cost office space picks up

Los Angeles

PORTMAN Holdings LLC, which has built high-profile properties such as San Francisco's One Embarcadero Centre, plans to break ground in June on its first US office development without tenant commitments in more than 25 years.

Portman's project is in Charlotte, North...

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