U.S. office vacancies up; leasing ebbs
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From Times Wire Services
Office vacancies in the U.S. rose for the first time in six months to 9.9% in the first quarter as employment fell nationwide, real estate broker Cushman & Wakefield said.
The national office vacancy rate was up from 9.7% the previous quarter, New York-based Cushman said.
The rise in vacancies coincided with a drop in the amount of space newly leased, which fell to 17.5 million square feet in the first quarter from 18.1 million square feet in the previous three months.
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