The rise in office real estate income has slowed.
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Growth in net operating income from office buildings was almost flat in 1984, the Building Owners and Managers Assn. reported. The report reflects a downward trend over the past few years. The association said that operating income is not likely to grow for U.S. private-sector buildings in 1985 and may decline. Vacancy rates ran as high as 25% in some cities, the association said. In addition to the overbuilt situation facing building owners, the survey said costs for energy went up 8 cents per square foot from 1983 to 1984 and property taxes increased 11 cents per square foot.
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