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US office rents extend gradual recovery in Q4

Technology, energy and media firms help lift property values in some cities

In demand: New York and Washington had the lowest vacancy rates, at about 10 per cent, while Boston, Dallas and San Jose, California, had the largest rent increases from the third quarter. - PHOTO: BLOOMBERG

[SEATTLE] US office rents rose in the fourth quarter, extending a gradual recovery from the recession that's prompted some landlords to sell buildings as occupancies climb.

Tenants paid an average of US$23.48 a square foot, up from US$23.32 in the previous three months and the 13th...