June 2009 Office Market Highlights
• Leasing velocity is down 40% through May compared to one year ago
Here's the report
• The professional services sector accounts for 31% of 6.3 million square feet leased this year
• Availability (13.5%) and vacancy (7.8%) continue to rise
• Generous concessions and falling prices are making transactions more cost-effective for tenants
1 comments:
Like the late 80's and early 90's the market is over built. The economy has been slowing. There will have to be the same pain in office as there has been in residential. No one gets away free unfortunately.
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