• U.S. office market conditions continue to favor owners but are moving closer to equilibrium as the current cycle edges toward maturation in more markets.
  • Overall net absorption totaled 7.2 million sq. ft. in Q1, down about 50% from the prior quarter.
  • The technology industry remains the leader in office leasing activity, accounting for 19.0% of total leasing in Q1—a slight uptick from the share in 2016. High-tech was followed by business services (11.8%) and creative industries (9.6%).