The Grubb & Ellis Third Quarter Market Report is here. Here are the highlights:

  • Manhattan availability is down 40 basis points to 13.9 percent— a six quarter low
  • Sublease supply dropped for the fifth consecutive quarter
  • Leasing velocity is up 16 percent year-over-year at 20.2 million square feet
  • Class A and Class B asking rents rose for the first time since the fourth quarter 2007