Jones Lang LaSalle Reports Decrease in Vacancy Rates Across Manhattan Despite Slow Leasing Volume in Third Quarter of 2011
NEW YORK, NY – October 10, 2011 – (RealEstateRama) — Jones Lang LaSalle announced that despite slower leasing volume over the summer, vacancy rates have fallen in Manhattan in all office building classes and every submarket in the third quarter of 2011. Higher prices for the city’s trophy office buildings fueled a boost in overall and Class A average asking rental rates in Midtown and Downtown office product, while Midtown South office buildings saw rates remain stable.
