Office REITs have underperformed the REIT index so far in 2017 after a significant post-election surge higher. Deregulation and pro-growth policies appear less certain as the GOP agenda has sputtered.

Job growth has been robust since the recession. While job growth remains strong (particularly in the professional sectors), it may become more muted as the economy nears full employment.

Because of their longer leases, office REITs are just now feeling the full effects of the recovery. Office REITs are expected to see above-average NOI growth over the near-term.

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