Following the national trend of an overall lower unemployment rate, United States office market vacancy rate closed at 11.2%, down from 12.1% at the close of 2013. The decline in vacancy was helped by the overall positive absorption over the past year of 92 million square feet of space. This positive impact was helped by the United States adding more than two million jobs since the beginning of the year, which our country has not seen since 1999.
Every year, Block Real Estate Services, LLC (BRES) releases our comprehensive market report, lending insight on commercial real estate in the Kansas City market. Kansas City continues to see many more exciting development projects planned, under construction or just completed over the next 24 months as well as strong investment activity.
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