Office rents post sharpest drop since 1995

10/7/2009 | Wall Street Journal, The

Office rents across the U.S. plummeted 8.5% in the third quarter compared with the comparable figure a year earlier, marking the most severe decline in more than a decade, research firm Reis said. In the same period, tenants vacated a net 19.6 million square feet. That was a bit higher than the amount of space tenants handed back to landlords in the previous quarter.

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