Matthew Fitzgerald, director, Savills European tenant representation team, adds: «Although an increasing number of tenants are trying to opt for short to medium - term leases to increase business flexibility, the reality is that landlords are benefitting from falling vacancy rates. (savills.gg)
One of the biggest takeaways of the third quarter is falling vacancies in Manhattan, as the vacancy rate dropped 20 basis points to 9 percent — the lowest rate since August 2016. (commercialobserver.com)
Office landlords have enjoyed falling vacancies and rising rents during the past three years. (nreionline.com)