U.S. Office Market Sees Highest Level of Absorption since 2007 while Office Market Rents Reach Bottom according to Jones Lang LaSalle

CHICAGO, IL – July 7, 2011 – (RealEstateRama) — The U.S. office market absorbed more space in the second quarter of 2011 than it had in the previous four quarters, which illustrates a clear sign that the U.S. office market is in a full recovery. In the second quarter of 2011, the U.S. office market achieved the greatest amount of quarterly absorption since the fourth quarter of 2007 with nearly 11 million square feet absorbed during the three months and nearly 14 million square feet absorbed in the first half of 2011, according to Jones Lang LaSalle’s Second Quarter 2011 United States Office Outlook. Jones Lang LaSalle’s quarterly outlook tracks 43 U.S. markets and provides an overview of supply and demand, pricing conditions, a statistical analysis and an outlook on future performance.