Not exact matches
Capital NY's Laura Nahmias reported earlier this afternoon that some Assembly Democrats are
pushing for changes to the rent agreement, including an increase in the threshold for
vacancy decontrol, though the governor's
office denied that was the case.
This rate of job growth, if it persists, should be strong enough to start
pushing down
office vacancy rates.
Dallas: New space deliveries in the
office sector (2.5 million square feet) have
pushed vacancies to their highest levels since the 2001 downturn.
When the economy grows rapidly,
office demand grows rapidly as well,
pushing vacancy rates down, and rents, cap rates and property prices up.
Ted Stratigos, principal and managing director of Avison Young's Long Island
office, says tech
office users and gentrification have forced out industrial tenants from Brooklyn and Queens into Nassau County, driving down
vacancy and
pushing rents to record highs.
The expected delays in new
office projects due to the tight lending conditions developers are facing, coupled with low
vacancy rates, may
push tenants to the suburbs to solve any short - term demand issues, says the report.
Pushing up the
vacancy rate is empty space left behind by Bank One, which is combining
offices into Bank One Center.