Second Quarter 2010 Office Market Highlights:

• Vacancy experienced its first decline since 2008

• Available supply is at a 15-month low

• Mid-year leasing activity is up 20 percent year-over-year

• Demand for large blocks of space increased—five deals greater than 250,000 square feet were signed

• Overall direct rents dropped in Manhattan—Midtown Class A asking rents rose for the first time in nine quarters