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- Year-to-date leasing velocity of 5.2 million square feet represents a nearly 50.0 percent decline from the same timeframe one year ago.
- Recent office demand has been fueled by smaller-sized leases, rather than the 100,000-square-foot transactions that tend to have a greater impact on vacancy rate.
- Despite the deceleration, leasing velocity is anticipated to recover in 2018, as more than 4.4 million square feet of tenant requirements are navigating the office market.
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