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Trouble is brewing for office market

Posted on 11 January 2012

While the housing market was at the heart of the most recent real-estate crisis, office buildings—the center of past meltdowns—until now haven’t been a major source of concern. But many owners who have been able to keep their heads above water are being undone by tenant contractions and the expiration of five-year leases that were signed at the peak of the boom.

Rents in most markets are still well below what they were in 2007, with the drop in some areas as much as 26%, according to data firm Reis Inc. Because of the weak market, landlords with empty space or expiring leases also have to spend large amounts on incentives to attract tenants, like free rent and interior work…………………………………….Full Article: Source


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