News
OFFICE AIN'T THAT BAD
September 21, 2011
| What economic slowdown? Reis research maestro Dr. Victor Calanog says the US office sector continues to post solid signs of recovery. Evidence: about 12.6M SF have been leased across the US YTD, with rents increasing modestly in almost every month. |
 |
| Granted, vacancies have only fallen by 20 bps since the start of the year, but don't forget: the economy only grew by 0.7% in the first half. “Recovery has been slow, but please, let's not cry a river,†Victor says. (Our tear ducts simply can't handle that volume of water.) “We expected any rebound from this recession to be a slow, tough slog.†Of course, things got rockier in August, after the debt ceiling debacle, the S&P downgrade, and zero job growth. We'll see if office buildings continue to post decent numbers next month. |
 |
| But what about New York? You'll just have to join us (and nearly 400 of your industry cohorts) tomorrow at Eleven Times Square to find out. Bisnow's holding its third annual New York Real Estate Summit, featuring top names like Credit Suisse's Bill Mott, AIG Asset Management-Mortgage Capital's Michael Medvin, George Comfort & Sons' Peter Duncan, SL Green's Isaac Zion, Harbor Group International's Jordan Slone, Iron Hound Management's Robert Verrone, CBRE's Howard Fiddle, Katten Muchin Rosenman partner Andrew Jagoda, and Royal Abstract's Martin Kravet. Great schmoozing, too—just check out what a past Summit has looked like above. Sign up here! |
