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Excerpt: GOLDBERG: Gentlemen, thank you. Let's go around the table. i'd like to know what kind of office space is available today that might have been a rarity one or two years ago. REETZ: Large blocks of office space. When the market was tighter, there were few large blocks; now we see a much greater number available. The market was driven by those big deals. Anything over a hundred to two hundred, up to 250,000 square feet. Landlords went into other neighborhoods to look for or develop large blocks of space. BERTI: A tremendous amount of sublease space. The vacancy rates two to two and a half years ago were approaching five percent, a very landlord oriented market. Sublease space was probably about one percent, twenty percent of that. Over the past twelve months, the amount of sublease space has risen. It is now 3.6 percent - a tremendous amount of supply. And there are blocks of sublease space that we call shadow space, not listed but that could be made available... |