My Blog

Available for purchase on Amazon:
Read more…

U.S. office vacancies hit 15.2% and are rising – WSJ

WSJ reports cos, struggling to cut costs, dumped a near-record
25 million square feet of office space in the first quarter,
driving vacancy up and rents down, according to data to be
released today by Reis. Businesses that needed to lease space
took advantage of the market weakness to extract concessions
from landlords. But the trends exacerbated financial woes
for owners, especially those who owe more on their mortgages
than their properties’ current value.

The office vacancy rate nationwide rose to 15.2% from
14.5% in the previous quarter, and likely will surpass
19.3% over the next year, according to Reis.

Read more…