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Good News for Office Space This Week

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Over the past week we have tweeted quite a few times on the improving office space market. While we all like to hear news of an improving economy, what good news for the office space market means is that the office space market is in the process of beginning its transition from a tenant market to a landlord market. As has happened with economy in general (and will hopefully continue), this process will take a couple of years for the transformation to complete. The process will not be even from market to market, but we will see markets such as New York, Washington DC and San Francisco lead the way in declining vacancy and increasing rental rates. As employment continues to improve other primary and secondary markets will follow. The general consensus is that this will take a couple of years to happen, but most are in agreement that most markets have hit bottom and rental rates will begin to climb.

For tenants who have been on the fence as to whether or not to renew or relocate their office, now is a good time to get started to ensure a low rental rate for a long-term lease.

Recent tweets:

Manhattan Office Property Surges Bolstered by a stronger-than-expected recovery in hiring http://ow.ly/a7NMm

The Jumpstart Our Business Startups (JOBS) Act: What You Need To Know http://ow.ly/a6Wma

It's slow all over - The US #officespace vacancy rate at the end of March stood at a whopping 17.2% http://ow.ly/a6DOw

#OfficeSpace lease opportunities to tighten in second half - Office Rents on teh rise http://ow.ly/a5cxl

Information and media companies pass Wall Street as top leaser of #officespace in New York as office rents increase http://ow.ly/a3G5t

U.S. #OfficeSpace Sector Records 8th Straight Quarter of Improving Fundamentals - Asking Rents on the rise http://ow.ly/a3FRc

ULI: Consensus of Economists Sees Promising CRE Outlook Through 2014

Why Is Your Landlord Sprucing Up Your #Officespace Building? http://ow.ly/9W5IM

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Manhattan Office Space , New York Office Space , Office Space Negotiations , San Francisco Office Space , Washington DC Office Space

1 response to “Good News for Office Space This Week”

  1. Brad K Says:
    Our office leasing activity for office space in Columbus Ohio has increased significantly from last year to the point where rents are starting to increase. Anyone looking to redo their lease or purchase a builidng should do it soon before prices and interest rates increase.