San_Jose-Downtown-1 (2) Tech leases accounted for 23% of all US leasing activity during the second quarter, greatly benefitting tech-centric markets such as Santa Clara, a San Jose suburb.

CHICAGO—The US office market is in the midst of one its longest expansions and, fueled by the tech and financial services sectors, shows no sign of slowing down. Office markets across the US saw steady leasing volumes, healthy absorption, and rising asking rents in the second quarter of the year, according to new research from Cushman & Wakefield.

Tech accounted for approximately 23% of all leasing activity and financial services represented roughly 17%. And it’s the tech-centric metro areas that have the lowest vacancy rates: Midtown South Manhattan (6.7%); San Francisco (7.4%); Raleigh/Durham (7.6%); Puget Sound, WA (8.1%); and Charlotte (8.2%).

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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