Corporate Realty Publishes 4th Quarter 2013 Office Leasing ReportPosted by: Corporate Realty on February 12, 2014 | 2 Comments
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Corporate Realty is proud to publish this 4th Quarter 2013 Office Leasing Report prepared by Bruce Sossaman, Leasing Director of the Lakeway Center and Broker Associate, in cooperation with building owner representatives. Bruce reports that overall 2013 was a good year for the metropolitan New Orleans office market, occupancy in greater New Orleans office market increased from 85.09% in the 4th quarter 2012, to 86.47% in the 4th quarter 2013, with 206,524 square feet of positive absorption. The CBD Class A and B market occupancy increased from 83% in the 4th quarter 2012 to 85% in the 4th quarter 2013. Class A office market achieved positive absorption of 133,554 square feet, with end of year occupancy at 88.5%, up from 86.2% in 4th quarter 2012. The Metairie Class A and B market occupancy increased from 92.91% in the 4th quarter 2012 to 93.95% in the 4th quarter 2013 with approximately 35,000 sf of positive absorption. Class A office market end of year occupancy was 94.92% and Class B end of year occupancy was 92.4%.
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