“The current situation is that leases are dribbling in, generating small increases in occupied square footage. The current pace of construction is not only lower than in the boom, but well below historic averages. We know that given even middling economic growth, we’ll eventually need to build at a much stronger pace. However, the high vacancy rates that are a legacy of the recession will limit new construction through 2013 at least.”

http://www.forbes.com/sites/billconerly/2012/10/16/real-estate-forecast-2013-2014-commercial-properties/