CHICAGO—For office markets with strong concentrations of energyor tech tenants, the recovery in demand has been equally strong.Outside of those markets, however, it's considerably less robust,Albert Lindeman, SVP with Sperry VanNess, tells

“The coasts are doing very well,” says Lindeman, citing New YorkCity and San Francisco. “When you get into the energy sector,Denver and the Texas markets are growing dramatically.” Insecondary markets such as Charlotte as well as Lindeman's home baseof Chicago, the expansion of tech tenants is contributing togrowth. “So there are some very good high points, but overall it'spretty much lackluster.”

How quickly those lackluster markets will acquire some luster isvery much dependent ion the local employment numbers, Lindemansays. “If you see the office employment rates increasing inindividual markets, you'll see an increase in absorption” as wellas greater appeal to investors.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.