A Fresh Take on CRE

Weak Downtown Market Lingers— Grubb & Ellis New York June Market Trends

Now that it's July I guess I should get around to posting the June NYC office market trends, so here it goes:

• Downtown availability reached a five-year high at 16.5 percent

• Vacancy soared due to Goldman Sachs’ relocation to new headquarters

• Large blocks of available space will likely impede Downtown’s growth

• Asking rents are stabilizing, concessions remain at market high

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