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In this short video, the narrator highlights a paradox in U.S. office vacancy data: overall vacancy fell by 14 basis points year‑over‑year, while stabilized vacancy rose by 34 basis points. The increase in stabilized vacancy occurred across every major U.S. region—Northeast, Pacific, South, and Mountain—even in areas where the overall vacancy metric showed improvement. The speaker explains that this pattern reflects a market where newly built properties are being absorbed quickly, whereas older, established buildings are experiencing rising vacancy rates, suggesting a nuanced, uneven recovery.

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