Bruce reports that the Greater New Orleans office market in the 1st Quarter 2017 saw a slight decrease in occupancy. The only positive absorption in the market was in the CBD Non-Class A submarket (11,000 sf). All other submarkets in the area were either flat or saw a decrease in occupancy, with the CBD class A submarket showing the largest decrease of 76,000 sf in the 1st quarter. The overall occupancy in office market at the end of the 1st quarter was 88%.
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