A Fresh Take on CRE

Availability Dips—Tenants Seek Opportunities: Grubb & Ellis Manhattan Office Market Trends—September 2009


September 2009 Office Market Highlights:


• Landlords continue to offer generous concessions – net effective rents remain at 2005 levels
• Uptick in leasing activity as tenants lock in lower rents
• More than 4 million square feet was leased in July and August – 35% of this year’s activity
• Availability dropped 10 basis points to 14.6% in August


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