In every post-recessionary period, the office market is the last to recover, says Avison Young. Even with modest improvement in private-sector job growth in 2011, overall vacancy was expected to finish the year at 19.6%. Net absorption was slightly positive, but anemic, in 2011. There continues to be downward pressure on rents, with landlords continue to offer aggressive concessions to attract new tenants. Rents are at or near the bottom, but it is unlikely that they will improve significantly in 2012.For the full report, CLICK HERE.
