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The office market is showing renewed signs of life as firms evaluate and implement return-to-work strategies, with average leasing rates inching up 1.4% year-over-year to an average of $38.67 per square foot.  

Manhattan remained the priciest market nationwide, with an average listing rate of $85.82 per square foot, followed by San Francisco, with average rates of $69.66 per square foot. The overall Bay Area market came in third, posting rates of $57.11 per square foot, the highest average full-service equivalent listing rate across the markets analyzed by CommercialEdge in a new report.

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